Superannuation fund HESTA goes live with new GoldenSource investment data management
GoldenSource, an independent provider of Enterprise Data Management (EDM) and Master Data Management (MDM) solutions, has announced that HESTA is live with the GoldenSource Nexus investment data management platform. It will support the fund’s strategic investment decisions and the selective insourcing of funds management.
HESTA, a top 20 Australian superannuation fund serving over 860,000 members is using GoldenSource Nexus as the hub for its strategic investment data transformation program. And with the infrastructure supported by GoldenSource OnDemand hosting and applications services, HESTA will be able to focus on managing more investment in-house, delivering improved investment decisions and reporting, using a greater variety of data sources.
The new investment data management service, with phase one set up in under six months, will bring together seamlessly the data from HESTA’s middle and back office services and investment consulting providers, plus their 100+ external fund managers and multiple market data and internal sources. Key features, including management of complex fund structures and extensive drill through and look through capabilities will support asset allocation decision-making, portfolio/fund sector analysis, portfolio risk management, performance attribution reporting, expense management, reconciliations, NAV oversight and board reporting.
GoldenSource underwent a rigorous selection process, beating out competitors due to its comprehensive flexible system and a history of successful delivery and support across the Australasia and APAC regions.
Gerard Brown, executive investment execution at HESTA, says: “We look forward to working with GoldenSource to help us deliver outstanding execution and real time data to support investment decision making. We are growing rapidly and need a scalable system to provide timely data insights. Selecting GoldenSource is the first step in transforming and future-proofing our entire data infrastructure that helps to deliver strong, long-term investment performance for HESTA members.”
GoldenSource Nexus includes an operational data store for mastering security, entity and price data, plus a bi-temporal historical data store as a centralised reporting hub. With all data types managed centrally, data quality, consistency and availability will be improved for all business functions and responsibilities across the firm. Having data natively interlinked and cross referenced will also support future growth and support oversight and risk management functions.
John Eley, CEO at GoldenSource says: “Due to increased regulatory pressure and an industry-wide drive for automation and efficiency we are seeing a significant rise in the number of superannuation and investment funds looking for a full data management platform as a service, fit to support their growth and maturity. We are pleased to be working with HESTA to support them through their strategic transformation.”
The GoldenSource Nexus investment data management platform allows buy side firms to benefit from a single platform of interlinked data sets for all market, reference and reporting data. It enables efficient decision making by providing deeper insight into investment data and helps manage complex fund structures/policy trees. The fast time-to-value of GoldenSource Nexus is assured through out-of-the-box integration templates and exotic asset class templates, including alternatives, private markets, and infrastructure assets.