In partnership to achieve best practice results Case Study 1 Client: Large UK local authority Issue: Reporting - preparing committee reports had become too time consuming This pension scheme is government sponsored and its management team must therefore be very conscious of how resources are used. In the past, generating committee reports was a complex and laborious process – extracting information from the custodian’s system and entering it manually into Excel files. Summit presented the fund with Zenith Reports, a reporting tool unlike any on the market. Instead of standard reports, it allows customers to tailor their output to the appropriate level of detail. Having created a bespoke template, the report can be used over and over again without further manipulation. Now the pension scheme can access historical data online, and rest assured that future reports will be generated automatically. The Zenith Reports system not only creates reports across more variables, more frequently, but the user now has more time to monitor areas such as risk, compliance and foreign exchange rates.
David Sellors, CFA FSIP, Chief Operating Officer of LAPFF (Local Authority Pension Fund Forum) and Director of DS Consulting services Ltd, “Summit has studied the market and responded with online tools that address industry issues such as timing, flexibility and transparency whilst incorporating a sensitivity to the issues facing trustees, such as increasing complexity and escalating regulation.”