The club AMPERE was born following an assessment shared by many asset management firms: client reporting production is facing increased complexity for two main reasons.
Firstly, the increasing specialization of mandates set up by institutional investors and, as, consequently, the increased number of strongly differentiated fund management process by asset management companies puts a strong pressure on client reporting activity, summoned to deliver an increased number of different formats within shortened production runs.
Secondly, investors request increased transparency following the fall in confidence in asset managers involved by the financial crisis and renew their call for new, relevant, universally acknowledged methodologies, such as the ones defined for performance attribution or presentation standards recommended by investors’ professional bodies (in France, Association Française des Trésoriers d’Entreprise et Association Française des Investisseurs Institutionnels).
This increased sophistication is not fully perceived within industry : financial reporting remains poorly known and is often considered by young graduates (and some HR departments in some companies…) as a temporary assignment or a prerequisite for accessing more prestigious functions.
In this context, several asset management companies have decided to initiate a working group and a permanent representation of the financial reporting function, officially launched on October 2007.
The Club AMPERE