Q&A with Anthony Conway on Calastone Wrap Reporting ______

Blog / 29 Mar 2021

Anthony Conway, Product Manager, Calastone

1. How did the idea for Calastone Wrap Reporting come about?

Our Australian fund manager clients identified that they were dealing with inefficiency as they were receiving their fund platform reports. These reports come in many different formats across differing timeframes.  As a result the fund manager needs to manually aggregate these reports as they are delivered from different sources. This takes a huge amount of time and resource whilst introducing a risk element as the final report is manually compiled.

The knock-on effect is that fund managers face potential lost opportunities as their sales and product teams don’t have a consolidated view of their adviser activity in good time.

With our unique position and connectivity across the market, we worked to build a solution to automate and digitalise this area.

2. So how exactly does it work?

As each platform issues its reports, we gather the information directly from them. We process the data through our network and translate it into a single standardised format, then provide it directly to the fund manager through a robust and highly secure connection. Fund managers can immediately access the reports via Calastone’s online portal or through an SFTP connection, ensuring resilience and certainty.

3. What benefits are clients seeing so far?

We already have a number of fund managers in Australia live on Calastone Wrap Reporting. The feedback so far has been very positive, with clients citing they no longer have to rework, reformat and rekey data from the platform reports in order to make it usable, freeing them to use their time focussing on analysing and utilising the data.

With this timely, accurate and usable data, they have been able to more effectively maximise their business development opportunities through streamlined investor targeting and bolstered adviser support.

4. What impact will this have on the end investor?

Calastone Wrap Reporting provides fund managers with a more usable view of their adviser activity than was previously possible. This means they can build better, more relevant products based on their funds’ performance and trends.

By being more responsive to patterns in the market they can more closely follow investor behaviour. With this business intelligence, fund managers can improve their funds and products to better suit their needs.

5. What does this mean for the funds industry in Australia?

Through automation and digitalisation, Calastone has transformed the funds industry in Australia to enable it to better serve its investors and to build a more competitive, future-proofed industry.

Through Calastone Wrap Reporting we are continuing and expanding this transformation, building a stronger and more engaging relationship between fund managers and advisers, creating connectivity across the whole market.

6. How will Calastone Wrap Reporting be implemented by clients?

Implementing Calastone Wrap Reporting is a very straightforward and seamless process. We simply agree connectivity with the fund manager and the platform. Clients then test their connectivity into Calastone. The process is also simplified as testing isn’t required for each new connection into a counterparty.

The fund managers, via a single connection to Calastone, receive the information as soon as it is received from the platform.

7. Do I need to be an existing user of Calastone network to be able to use Calastone Wrap Reporting?

Our services can be run independently of each other, enabling our clients to take advantage of the services that are most relevant to them. This means clients can adopt Calastone Wrap Reporting regardless of their current infrastructure.

Featured articles