A new global study looking at the future of fund administration and the impact of new technologies has found a significant number of private capital funds are still lagging behind in terms of their digital capabilities, limiting competitiveness and opportunities for growth.
The study, The Future of Fund Technology, commissioned by Intertrust Group and based on interviews with 300 private capital fund senior decision-makers in the UK, Europe, North America, and Asia, found one-third of private capital funds (30 per cent) are still using primarily – or even entirely – manual processes. In addition, one-fifth (21 per cent) of respondents do not believe automation and new technologies will be vital to competitiveness over the next five years.
Despite that 87 per cent of large cap managers with over USD3 billion of AUM plan to increase their tech spend over the next five years, of which 17 per cent are budgeting at least a 20 per cent budget uplift.
