Products December 16, 2010

Northern Trust Announces Enhanced Risk Tools

Northern Trust upgraded its suite of risk tools by integrating BarraOne to strengthen predictive risk analytics and reporting across asset classes, including derivatives.
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A press release said the integration of BarraOne’s global, multi-asset class portfolio risk service with Northern Trust’s custody, accounting, fund administration and collateral management platform provides a view of risk and compliance information for clients including investment managers, pension funds, insurance companies, family offices and other asset owners. Utilizing Northern Trust’s single, integrated risk portal, clients can apply the full spectrum of risk models and stress testing to generate predictive risk reports that can be used to adjust strategies, maintain investment policy compliance or meet regulatory requirements.  

According to the announcement, examples of predictive risk functionality for different types of users include: 

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  • Scenario-based analysis including interest rate shocks and credit risk shocks to help insurance companies comply with increased reporting required by the “Solvency II” regime, which forces insurers to set capital requirements more in line with their risks. 
  • Overnight reporting on derivatives market and counterparty risk, for Investment Operations Outsourcing clients. 
  • Enterprise-wide risk reporting for financial institutions subject to a range of regulatory measures coming into effect across the globe, including UCITS IV and Dutch Financial Assessment Framework (FTK) in Europe, Dodd-Frank in the U.S. and FSR 107 sensitivity reporting in Asia. 
“Using these state-of-the-art tools, we can forecast risk over short and long horizons, assess risk from various sources, stress-test investments and better prepare diversification analyses across multi-asset class portfolios,” said Jim Trotter, Global Head of Investment Risk & Analytical Services at Northern Trust, in the announcement.
Data & Research December 16, 2010

Canadian Boomers Glad to Have Retirement Blueprints

As the first wave of Canada's Boomer generation turn 65 years old in 2011, only 23% are concerned about having enough savings, according to the 21st Annual RBC RRSP Poll.
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Seventy one percent of Boomers who reach their 65th birthdays next year, with financial plans in hand, say they are better off financially as a result of those plans. Two-thirds of 64-year-old Boomers first developed their financial plan at an average age of 35, once they began accumulating assets and started saving. Some 42% of Boomers have a formal written financial plan, compared to 19% of the country’s general adult population.

“As a significant portion of Canada’s population nears age 65 and the reality of retirement looms closer than ever, it’s interesting to note that many have a written financial plan,” said Lee Anne Davies, head, Retirement Strategies, RBC, in a news release. “We know a financial plan can provide you with direction and the confidence in knowing your options and how you are going to achieve your goals even if life throws you a curve ball.”

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The RBC poll also found that overall, Boomers say their best outcome for retirement would be good health (28%) followed by living life the way they envisioned (25%) and having saved enough money for a comfortable retirement (23%). For 64-year-old Boomers, the majority (67%) agrees that the best gift they could receive is “good health.”

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