While it is possible to construct composites using tools available in most portfolio accounting systems – or even by using spreadsheets – these methods have limitations and typically require manual workarounds and processes. They also can be difficult to audit and provide minimal reporting capabilities.
In our experience, efficiencies are gained by using composite management software to construct and maintain composites as well as to produce performance reports. Further, having a more systematic automated approach to composite construction will reduce errors. However, it is not uncommon for firms to underestimate the workload associated with a system implementation. In particular, firms tend to place too much reliance on the system vendor and assume the software is setup in a manner that adheres to industry best practices, like the GIPS standards.
Through Guardian’s Composite Performance System Implementation services, we assist firms to identify solutions that best meet their needs. We have familiarity with and have experience implementing a number of different systems. All systems have different strengths and weakness, and we will help you find the one that is right for you. We then work with your chosen system vendor to ensure a smooth implementation. We are experts in the GIPS standards and can help you to avoid mistakes by confirming that the system is setup in a manner that is consistent with the GIPS standards and to develop processes to produce accurate performance and maintain ongoing compliance.