By Susan Bell Statistics provider CAPS is beginning its push into Europe with the launch of a perfor...
By Susan Bell
Statistics provider CAPS is beginning its push into Europe with the launch of a performance measurement product for individual funds
Mick Brant, CAPS chief executive, said the group will market the forthcoming IMS Enterprise product to institutional fund managers to allow them to carry out analysis on their own portfolios
He said: "We are not going to get data in Europe initially. We will sell these systems to institutions for the fund managers to analyse their own investment universes."
Once the system is installed across Europe the group then hopes to begin a new phase of collecting performance data from its clients in return for the reports of comparative performance across the industry, similar to CAPS operations in the UK.
The move comes amid the increasing competition in the provision of analytical and performance statistics with Mellon Trust looking to expand its range of services to clients in the UK and Europe through a joint venture with Frank Russell.
The CAPS IMS Enterprise will be able to provide analysis down to stock level, allowing fund managers to see the impact of owning, or not owning, particular stocks at various times.
CAPS would run the internal analysis monthly for the groups.
CAPS will continue to provide IMS32, its existing PC-based performance measurement system, for the foreseeable future both in the UK and in Europe.
The group is also looking to change its performance anal-ysis of the institutional pension funds in the next 18 months by introducing monthly reporting for those who want it. All reports are currently quarterly.
The group will increase the number of sectors it covers such as including retail funds in performance analysis in the longer term.
Carter said it could expand the CAPS service to a range of retail products including unit trusts and pension funds.
CAPS currently measures the performance of more than 3,000 portfolios for UK pension funds worth more than £400bn.
The group's database of funds, Inform, will be able to be accessed via the internet later this year. The database offers information on a range of fund management groups.
CAPS has produced its CAPS Pooled Pensions Survey for 10 years. It covers 83 investment institutions with more than £192bn under management.
The group also provides data processing and reporting on pooled and segregated funds and risk and analytical services to UK pension funds.
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