Bloomberg has announced significant enhancements to its enterprise-level Research Management Solution (RMS Enterprise), introducing two new capabilities: Custom Fundamentals and Digest Alerts.
The updates are designed to address long-standing data interoperability challenges within investment firms, allowing research teams to better integrate proprietary financial models into their workflows and strengthen oversight across their organisations.
For many buy-side firms, a disconnect remains between the internal estimates generated by analysts in spreadsheets and the broader market data consumed on the Bloomberg Terminal. The new Custom Fundamentals feature aims to close this loop by capturing in-house estimates and integrating them directly alongside market consensus data.
Nick Joseph, Head of Bloomberg Research Management Solutions, explains to TradingTech Insight the operational friction this solves:
“Buy-side firms have long struggled with the way internal estimates can get buried in isolated Excel files. Very few have a practical way to pull data from hundreds of these files into a single place for proper analysis – they would have to hunt through individual files to compare their internal views with the Street. That makes it difficult to see whether they are more bullish or bearish, how internal views have shifted, or why an analyst adjusted a revenue forecast. Historically, this was a messy, multi-tool process. Custom Fundamentals changes that by capturing a firm’s internal estimates and surfacing them directly within the Bloomberg Terminal wherever consensus data appears. The portfolio manager no longer needs an extra system; the screen they already rely on is automatically enriched with internal analyst data.”
By surfacing this data, investment teams can immediately compare their firm’s forecasts with reported results and market consensus, while also using Bloomberg’s visualisation tools to monitor forecasting accuracy over time.
Recognising the varying technical maturity of asset managers, the solution offers multiple integration methods. “When it comes to getting a firm’s internal models and data into that consolidated research view, there are two main routes,” points out Joseph. “The primary approach uses built-in Excel functionality that lets individual analysts upload their data with a single click. If I’m an analyst modelling Apple, I can simply press a button in Excel and my data is uploaded. For firms that do maintain a central repository and want to feed data directly into their teams’ Bloomberg Terminals, we offer REST APIs. In effect, one option supports analysts working in Excel, and the other provides server-to-server enterprise connectivity for firms that already consolidate their data.”
The second major enhancement, Digest Alerts, focuses on governance and transparency. This tool provides front-office organisations with automated reporting to identify stale data and track changes in analyst recommendations. This is particularly critical for compliance and ensuring that investment theses remain current.
“The core purpose of Digest Alerts is to provide transparency,” notes Joseph. “Many firms have clear policies on how frequently research must be refreshed. If a portfolio holds a company on the basis of analysis done six months ago, policy may require that the research be updated – for example every three months – with a new earnings note or revised model. The aim is to create visibility into research activity and ensure it stays current.”
He continues: “There is also the issue of rating or recommendation changes. Large firms with central analyst teams generate research used by multiple portfolio managers, all of whom need to understand how upgrades or downgrades may affect their positions. With Digest Alerts, a portfolio manager can receive daily or weekly summaries of internal rating or recommendation changes that are relevant to their portfolios. The tool allows firms to configure and distribute updates broadly, or lets individual users curate personalised lists. At its heart, it surfaces a firm’s own data – ratings, recommendations, investment theses, price targets – filtered to the securities each person cares about, supporting greater transparency and accountability.”
Clients can combine RMS Enterprise with AI-enhanced solutions on the Terminal, such as Document Search & Analysis. This allows professionals to use natural language to ask questions and distil insights across company documents, news, and sell-side research.
The new features are available now as part of Bloomberg’s Investment Management Solutions suite.
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