Financial Activity for Asset Managers

Financial Activity for Asset Managers (FAM) helps fund managers track money movement within their investment portfolios for variable annuity and life insurance products – empowering them with more data and deeper insights.

FAM is a service offering of DTCC’s National Securities Clearing Corporation (NSCC) subsidiary

• Overview

  Since the launch of variable insurance products, asset managers have struggled to understand and identify these complex transactions within their investment portfolios. Current reporting processes fall short often because the data is compiled and provided at the omnibus level on a monthly or quarterly basis. The lack of specific transactional detail and speed of delivery impacts asset managers’ ability to provide control over their wholesaling activities and stay ahead of marketplace demands.

  DTCC developed FAM to provide asset managers better insight into their daily financial activity plus add a new level of transparency and reporting consistency to their business.

• Benefits

  • Gives asset managers the ability to track money movement within their investment portfolios of variable products.
  • Provides access to specific contract information on a daily basis, versus monthly or quarterly omnibus reporting.
  • Delivers better trend insights regarding investment selection within variable products.
  • Streamlines processes, eliminating the need to support and maintain manual communications and proprietary transactions.
  • Reduces the risk of errors that can occur with manual data exchange and processing.
  • Helps asset managers reduce time to identify and fairly compensate wholesalers for their activities.
  • Prepares the industry for a fully-standardized future.

• How The Service Works

  FAM uses a subset of data from an existing DTCC I&RS offering to track financial transactions within the product sub-accounts that contain the asset managers’ mutual fund investment options, transactions such as new or subsequent premium, asset rebalancing, full or partial surrenders, or death claims. It also identifies the issuing carrier, product name, broker-dealer and broker associated with the contract, and dollar value of the transaction. With new data at their disposal, asset managers will be able to track activity and manage their business more effectively.

• Who Can Use The Service

  FAM is available to clients who are members of NSCC. Clients who are full-service members do not have any additional membership requirements; however, clients with limited mutual fund membership will need to obtain an I&RS Data Services Only (DSO) membership to utilize FAM.

  Click here for information on how to become a member of NSCC or DSO member.

• For More Information

  Please email us at [email protected] or fill out a contact us form.