Deutsche Banks global institutional asset management business DB Advisors today announced an initiative to enhance transparency of its money market fund reporting.
Partnering with Clearwater Analytics, a provider of web-based investment portfolio reporting, DB Advisors introduced a standard for reporting fund holdings and risk analytics for its DWS Money Market fund complex.
Credit market turbulence has driven a flight to quality and liquidity, and investors want more transparency, said Joe Sarbinowski, global head of institutional liquidity management for DB Advisors. The industry has weathered the storm, but now investors are looking for ways to make more informed decisions around risk attributes. We are delighted to raise the bar on transparency by offering more detailed portfolio analytics that will help our clients gain a better understanding of their money market investments and enable them to make better-informed investment decisions.
According to a release from the firm, portfolio holdings will initially be disclosed twice monthly and investors will have access to more sophisticated analytics and surveillance tools than has been the standard in the industry.
The key features of the new release include: a high level of detail on both portfolio holdings and risk analytics, the availability of risk metrics not currently provided for money market funds such as credit and interest rate maturity, ABCP sub-sector attributes, credit and liquidity enhancements and repo collateral, as well as a Web-based system that ensures timely distribution of information.
"Its not so much about the frequency of reporting but about the quality of the information provided, said Kevin Bannerton, head of liquidity management distribution, Americas for DB Advisors. Reporting data has to be in-depth, yet standardized enough that clients can feel comfortable with the investment decisions we make on their behalf - and this new tool will go above and beyond the norm. We also believe that working with a credible third party, like Clearwater, represents the best way to improve uniform industry standards.