Empowering Investment Management: Lord Abbett's Reporting System Transformation

About the Client

Founded in 1929, Lord Abbett is a privately held investment management firm headquartered in New Jersey, USA. With over $199 billion in assets under management, the firm is committed to delivering superior long-term investment performance to its clients.

The Challenge

Lord Abbett faced several challenges with its existing reporting system:

• Data Integration: Aggregating and normalizing position and reference data from multiple sources was complex and inconsistent.

• Scalability: The system needed to efficiently handle over 20,000 instruments and generate more than 5,000 reports monthly.

• Consistency: Ensuring accurate comparisons across different benchmarks and managing various policies for split credit ratings posed difficulties.

• Agile Practices: Introducing automated testing, continuous delivery, and agile development practices required significant adjustments.

Our Solution

Our team implemented a comprehensive solution to address these challenges:

• Streamlined Data Integration: Developed a system to seamlessly load, normalize, and classify data from multiple sources, assigning unique IDs to securities and using metadata for standardization.

• Scalable Processing: Optimized the system to handle large datasets efficiently, enabling timely and accurate reporting for over 20,000 instruments and 5,000+ reports monthly.

• Consistent Analytics and Reporting: Provided reliable sector and credit quality breakdowns, average durations, and holdings concentrations, accommodating different benchmarks and data handling needs.

• Agile Development Practices: Introduced agile methodologies, including automated testing with TeamCity, continuous delivery, and frequent deployments, enhancing development efficiency and quality.

Technology Stack

• Programming Languages: Java, Python, Perl

• Database: Azure SQL Server

• Frameworks and Tools: Hibernate, Batch Script, TeamCity

Technology Stack

Deliverables

The collaboration led to significant improvements:

• Efficiency: Automated the summarization and dissemination of portfolio statistics, reducing manual intervention.

• Accuracy: Enhanced data consistency and reliability across reports.

• Agility: Adopted agile practices, leading to faster development cycles and improved software quality.

This transformation empowered Lord Abbett to deliver timely and accurate reports to stakeholders, including the board of directors, enhancing decision-making processes.

Project Workflow Overview