Standard & Poor’s, a provider of reference data products, Advanced Portfolio Technologies, a provider of risk analytics, and Aquin Components, a provider of compliance software in Europe, have partnered to provide a new risk management service called RiskComply. Research by Standard & Poor’s last year revealed a growing need among medium and small sized asset managers in Europe for compliance and risk monitoring solutions that allow fund managers to monitor both mandate and regulatory risk. As an ASP (application service provider), RiskComply allows customers to lease a unique combination of reference data and rules-based analysis that would otherwise be cost-effective only for large asset managers.
RiskComply is particularly helpful for firms that do not possess the infrastructure or resource to create their own risk and compliance framework, the new company said in a statement. RiskComply can help firms keep aware of potential hidden risks within portfolios and can help identify how close these portfolios are to breaching concentration limits.