The selection process was extensive, with eight vendors on the initial list in a process that lasted 15 months. Through detailed analysis via an RFP process, the list was subsequently reduced to three firms who were each asked to undertake a proof of concept. Ultimately, FMC was selected because of the tight level of integration among the various FMCSylvan modules, the sophisticated analytical and reporting functionality and its ability to simplify interfacing to investment accounting systems and index data. The superior quality of client statements generated by FMCPages and the ability to fully automate report generation and distribution further differentiated FMC from other vendors. Another key factor was FMCâs strong track record in serving the investment management community and its extensive client base.
KAS Bank is part of a growing trend among custodian banks seeking to broaden their product portfolios with value-added services to the investment community. KAS Bank will offer performance measurement and attribution services including comprehensive indices customisation, stock level attribution and automated data integrity checking. In addition, KAS Bank plans to add FMCâs market-leading Fixed Income Attribution module next year.
Through its browser-based user interface, FMCSylvan offers global access to performance measurement, attribution, risk and regression analysis. Web access ensures rapid deployment and streamlined dissemination of information, and highly customisable reports can be generated on the fly through a web portal. FMCSylvan empowers users to calculate a range of attribution results, including both additive and geometric methodologies, from the overall portfolio level to the individual security level.
FMCPages is a complete solution for high volume institutional and retail client reporting. Enabling investment managers and custodians to generate highly individualized and timely client reports, FMCPages delivers top quality paper-based statements, interactive web-based reports and sophisticated MS PowerPoint presentations.
"We took a considerable length of time in arriving at our decision to select FMC for performance measurement and client statement generation," commented Henk Boelens, head of asset management and reporting for KAS Bank. "In the final analysis, FMCâs solutions offered the best functionality, ease of use and will be the most efficient to implement and integrate into our existing infrastructure."
"KAS Bank has a sterling reputation as one of the most sophisticated custodians in Europe. We are delighted that they have recognised the edge our products can give," commented Phil Banas, managing director of Financial Models Corporation Limited, FMCâs UK subsidiary. "Performance measurement and client statement generation are key areas where a firm can differentiate itself from its competitors. Equipped with the best solutions in the industry, KAS Bank and their clients are sure to gain tangible benefits over the years ahead."