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Big data offers super opportunities
The top superannuation funds in the future will be those that can mine data and translate that into segmented engagement models, according to J.P. Morgan Worldwide Security Services (WSS).
A new big data environment which married traditional hard data streams with unstructured technology platforms was creating opportunities for super funds to stem the tide of members leaving to start self-managed super funds (SMSF), panelists said at its technology summit.
Investing in big data technology which allowed better engagement and predictive models would provide a competitive edge over other funds, according to WSS.
Bill Conyea, technology director, global funds servicing for WWS, said that businesses had previously trusted data to drive business from the ground up, but now companies were looking at ways of capturing ephemeral data and utilising traditional data streams in new ways.
"We have to start to think about how we can leverage and mine some of this data that's being created in unprecedented ways from an unprecedented number of devices and channels, and figure out how we can modernise our businesses," he said.
Conyea said because technology had become componetised, and the question was how to combine the two structures in ways that could deliver real value to clients and members.
Bryan Gray, WSS head of sales and client relationship management, said an unprecedented level of competition, regulations and a trend towards in-house investment teams had driven super funds demand for data over the last 12-18 months.
Gray said the company had been working with clients to identify the point at which members left the fund to begin an SMSF. The individual's data including their balance, online activity, switching and contributions habits acted as pointers in the process.
"That ability to be able to gather and mine that data and identify specific trends, right down at an individual level, and then target those particular individuals with communications that are suited for them is something that will be quite powerful in the future," he said.
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TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
66.99 3 y p.a(%)
2
Hills International
63.66 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
36.33 3 y p.a(%)
4
CFS FC Acadian Global Equity Long Short
35.96 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.23 3 y p.a(%)
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