Hedge Funds Demanding Innovative Technology
September 11, 2006
Hedge funds are beginning to demand new and innovative technology, and their investment in IT is expected to reach $3.3 billion by 2009, according to a Datamonitor report.
Hedge funds globally will look to use technology to improve execution capability in the front office as they seek competitive advantage, said Nii Barnor, a financial services technology analyst with Datamonitor and author of the study. Service providers need to raise the bar by offering enhanced reporting functionality and superior connectivity to clients. As regulatory scrutiny increases, hedge funds are resembling traditional asset managers by putting more emphasis on cost controls and efficiencies, Barnor said.
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