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Demand for mobile data growing fast
Pictet has rolled out an iPad app for investors, joining a host of other asset managers that have responded to growing demand for fund data on-the-go.
Pictet has rolled out an iPad app for investors, joining a host of other asset managers that have responded to growing demand for fund data on-the-go.
The Pictet app, which is free to download from the online Apple app store, is available in seven languages, including Dutch and Chinese.
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According to the Swiss-based asset manager, users of the app can choose to view key fund information, such as prices, performance and risk data, while also monitoring portfolio exposures and consulting interactive charts using their mobile device. Short investment videos can also be accessed on the new application.
Pictet's launch comes after several other fund houses already made the leap into services designed to cater for the growing use of mobile devices among investors.
Legg Mason last year launched an app designed for use on the iPhone, BlackBerry and Google's Android devices. The Legg Mason app, targeted at intermediaries, provides users with regular market updates, links to latest market commentary, fund prices, videos and webcasts. The group is due to launch an app designed for use with the iPad next month.
Mike Evans, head of international marketing at Legg Mason, says digital technology is now "a key part" of how the firm engages with its clients. "Part of what we are seeing is a change in behaviour and how clients consume information," says Mr Evans.
According to statistics from Kurtosys, a financial services communications firm, smartphone usage grew by 70% in 2010, with 23% of all time spent online being via a mobile phone.
Mr Evans says there has been a particularly strong demand for Legg Mason's fund prices via its iPhone app.
"A high proportion of client hits go towards fund prices provided on our website. But the take-up of mobile is growing quickly," says Mr Evans.
Other fund management groups to have launched iPhone or iPad apps include Baring Asset Management and Fidelity, while in the US, Pimco and Vanguard have rolled out services specifically for mobile devices.
JPMorgan Asset Management rolled out an iPad app to cover its European-domiciled fund range in September last year. The app, which allows investors to access historical prices, interactive factsheets, performance charts, market and investment insights and videos, is available for both the iPad and iPhone and can be used in six languages.
However, it is not just asset managers that are responding to a growing demand for data delivered via mobile devices. Fund administrators and custodians are also getting involved in the scramble to launch apps.
State Street's US business launched an app called State Street Springboard last autumn. The app enables fund managers and other institutional investors to view their entire investment portfolio at a glance, including risk-exposure analysis, net asset value summaries and fund flows.
In January, BNY Mellon launched an app for its institutional clients that allows access to performance and risk analytics services via an iPad. Clients can also view data such as portfolio and benchmark information, including daily and historical returns.
Others are building on their existing applications. Nordea last month rolled out a series of new applications targeted at iPad and smartphone users, some 12 months after its first iPhone app was launched.
The updated apps allow investors to access fund prices and fund charts, as well as calculate the return of their Nordea funds since they were purchased. Quarterly reports, fact sheets, fund manager interviews and key investor information documents are also available via the updated apps.
Legg Mason's Mr Evans expects the uptake of mobile technology among asset managers to continue. "There is a big emphasis on digital and how we can better use it to engage with clients," says Mr Evans.
"However, a lot will depend on the different companies and what they feel is right for them. There are certain applications that live better on a website, while others work better through mobile technology."
David Ricketts is senior reporter at Ignites Europe, a Financial Times publication, where this article first appeared.
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Links
- ^ Mobility ushers in a brave new world (www.ft.com)
- ^ Mobile advertising boosts M&C Saatchi (www.ft.com)
- ^ Colt hit by fall in voice sales (www.ft.com)
- ^ Advertisers rush to master fresh set of skills (www.ft.com)
- ^ Data centres: riding the wave (www.ft.com)
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