CAMRA picks up bespoke business from PSolve
UK - Asset manager database provider, CAMRA Data Services, has signed up PSolve as the first user of its bespoke service for investment consultancies.
CAMRA will now become PSolve's primary data source for research analysis and manager selection.
Psolve is a major consultancy in the UK pension fund market where it advises over one hundred institutional clients with assets in excess of £17bn (€24.9bn).
At least one other major UK consultancy is expected to follow PSolve's lead this year.
The new bespoke service enables clients to seek particular data from asset managers to suit their needs, for example the volume of assets they manage for the same type of institution.
Steve Butler, a director at CAMRA, said the service presented an excellent opportunity for cost-savings to asset managers currently employing a team solely dealing with tender documents from potential clients and their advisers.
" We are delighted to be working closer with CAMRADATA and hope that managers will welcome this initiative by completing appropriate products in the database creating efficiencies for their own RFP teams," said Dean Wetton of PSolve in a statement.
Although CAMRA needs consultancies and schemes to use its information, it makes its money from the asset managers, who pay to be on the system.
"Using CAMRA, an asset manager has to supply information onto our efficient, central system only once, where it is seen by 50 consultancies and 300 pension funds," he told IPE. Roughly half of the pension funds are based outside the UK.