Eagle Releases White Paper on Performance Book of Record (PBOR)

22 January, 2015

BOSTON– January 22, 2014 – Eagle Investment Systems LLC, a BNY Mellon company and leading provider of financial services technology, has today released a white paper outlining how investment firms can measure and attribute investment performance and perform risk analysis across their entire organization.

The white paper, called Characteristics of a Performance Book of Record, outlines the common challenges and limitations encountered by investment firms when attempting to measure and analyze performance across all of their asset classes. It outlines how Eagle’s approach extends the benefits of a consolidated Investment Book of Record (IBOR) solution to enable firms to build a consolidated ‘true’ view of their performance results, exposure and analysis; effectively producing a Performance Book of Record (PBOR).

“Many investment firms are finding it increasingly difficult and time-consuming to answer the questions being asked by regulators, clients and senior management teams due to their limited performance system’s capabilities,” said Rich Mailhos, Product Manager at Eagle Investment Systems. “The approach outlined in this white paper will not only help firms meet their reporting requirements more consistently, effectively and efficiently, but will also improve their understanding of risk and drivers of performance to enable better, more informed decision-making across the organization.”

The paper highlights a number of guiding principles for firms looking to developing a PBOR, including:

  • Ensuring it supports multiple sources of data, which are traceable back to the original source;
  • Flexible error handling and data validation tools that enable exception-only workflow monitoring;
  • Powerful data quality monitoring tools to judge data based on business rules;
  • Sufficient granularity to ensure details are tracked, for example, by asset type;
  • Data enrichment tools to address lag priced assets, notional exposure based instruments and multi-legged returns;
  • Flexible analytical capabilities that leverage multiple benchmark relationships;
  • Flexible analysis for composited portfolios or nested composites hierarchies (as needed to replicate global strategic asset allocations, fund of fund pools, or High Net Worth managed accounts business and investment models);
  • Flexibility to integrate historical returns of differing periods.

A recent research study conducted by WatersTechnology points to the industry’s trend towards more regular, comprehensive and transparent reporting to suggest that the Performance Book of Record (PBOR) is likely to become a familiar feature among investment management firms. Its research revealed the complexity that firms face when it comes to measuring and analyzing performance with over half (60%) using two or more systems to calculate performance across different client types and 9% using ten or more different systems. It is no surprise that only one in five (21%) firms are very satisfied with their ability to access timely, accurate and relevant performance data.

The white paper is available to download from the Eagle website.

About Eagle Investment Systems
Eagle is committed to helping financial institutions worldwide grow assets efficiently with its award-winning portfolio management suite of data management, investment accounting and performance measurement solutions that are delivered over its secure private cloud, Eagle ACCESSSM. Eagle deploys trusted solutions and services that create operational efficiencies and help reduce complexity and risk. Eagle Investment Systems LLC is a subsidiary of BNY Mellon. Additional information is available at www.eagleinvsys.com.

About BNY Mellon
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of Sept. 30, 2014, BNY Mellon had $28.3 trillion in assets under custody and/or administration, and $1.6 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com, or follow us on Twitter @BNYMellon.

BNY Mellon's Asset Servicing business supports institutional investors in today’s fast-evolving markets, safekeeping assets and enhancing the management and administration of client investments through services that process, monitor and measure data from around the world. We leverage our global footprint and local expertise to deliver insight and solutions across every stage of the investment lifecycle.

Garrett Tardie
Eagle Investment Systems LLC
+1 781-943-4852

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Eagle Investment Systems LLC is a leading global provider of financial technology solutions.Eagle's data management, investment accounting and performance measurement solutions integrate and streamline the investment process in support of achieving improved business efficiencies at a lower cost of ownership.