Sun, Jan 25, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Asset Managers identify top priorities/challenges in 2014, in a Bonaire survey

Friday, January 31, 2014
Opalesque Industry Update - Bonaire, a Broadridge Financial Solutions, Inc. company and leading provider of software solutions for asset managers, mutual funds and capital market firms, today released the results of its client survey designed to determine which priorities and challenges are top of mind among U.S. and global asset managers. This year’s survey findings highlight the ongoing need for product innovation in a competitive landscape, the drive for automation to increase efficiency and accuracy in key operating areas, and the desire to implement a holistic enterprise-wide approach to data and analytics across all business functions.

Bonaire surveys its asset management clients annually to understand the objectives that executives are prioritizing, and to identify the challenges that are causing the most trepidation. “The competitive industry environment and the need to deliver real-time business intelligence while meeting the increasing host of compliance regulations were identified as the top issues facing the industry,” said Christopher John, President, Bonaire. Mr. John added, “Leading asset managers remain focused on strengthening their competitive position by driving innovation, automating key business processes and improving overall efficiencies to enhance their financial performance.”

Conducted during Bonaire’s annual client conferences in Boston and London, the survey looked at the top business objectives, individual objectives and challenges for the asset management industry.

The need for product innovation to differentiate in a crowded marketplace took the top spot among asset managers, with 34 percent of those surveyed noting this to be their biggest business objective. Client retention, which has been at the top of the list for the past two years, was a close second with 32 percent of respondents indicating that as a priority. Compliance with new regulations was noted as a key challenge for the third year in a row as a result of the rapidly changing and increasing regulations, particularly in areas that require improved information management. Reducing costs and targeting new market segments also ranked high in importance.

When responding about their own individual team objectives, increased efficiency and accuracy was the clear winner with 62 percent of clients indicating it as their number one personal priority. “This is reflective of industry efforts to move away from error-prone manual and point solutions in key areas such as finance and operations, sales and marketing, and compliance,” added Mr. John. “The move to automate manual processes also provides better transparency and intelligence in areas such as costs and sales trends.”

The most difficult challenge noted by respondents was the need to bring together holistic data from all business units and provide cross-business reporting. With 37 percent of voters citing cross-business reporting, they noted that a lack of enterprise-wide data and analytics can turn everyday tasks into time consuming exercises. Minimizing fee leakage and improving accuracy came in second with 31 percent noting that under- and/or over-charging of fees, inaccurate invoices and elongated billing cycles remain among the most important issues to address in order to improve the bottom line.

When looking at solutions to help meet objectives and solve challenges, 92 percent of executives said implementing revenue and expense management solutions resulted in improvements in process and efficiency, with approximately 25 percent drawn by audit and compliance benefits and the reduction of fee leakage.

“Overall, leading asset managers are continuing to pursue opportunities to differentiate themselves, increase efficiency, and bring together the necessary enterprise-wide data and analytics – all while working to comply with an ever-changing regulatory environment. We anticipate these trends to continue well into the foreseeable future and to continue to innovate with our clients to enhance and develop new solutions to address their priorities and most difficult challenges,” concluded Mr. John.

Broadridge

Press Release

BM

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Commodities - Druckenmiller alums at PointState make $1 billion on oil, Andurand Capital sees oil sliding to $40[more]

    Druckenmiller alums at PointState make $1 billion on oil From Bloomberg.com: Hedge fund manager Zach Schreiber stood on stage at Avery Fisher Hall in New York eight months ago and made a bold prediction. “We believe crude oil is going lower -- much lower,” Schreiber, 42, told the audienc

  2. Investing - David Einhorn discloses a new position in Time Warner, Canyon trimming bets on mortgage bonds after making $7bn[more]

    David Einhorn discloses a new position in Time Warner From FTLeavenworthlamp.com: …Einhorn also disclosed a new position in Time Warner. "Since 2009, TWX has refocused its business into a collection of high quality assets including basic cable networks (Turner and CNN), a movie studio (

  3. Top performing private equity firms you should invest in[more]

    Komfie Manalo, Opalesque Asia: Professor Oliver Gottschalg of Paris-based HEC Business School, also known as Ecole des Hautes Etudes Commerciales de Paris has released his annual ranking of the top performing private equity firms. The 2014 HEC-DowJones Private Equity Performance Ranking

  4. Comment - Why invest in hedge funds if they don't outperform the market?[more]

    From Forbes.com: Hedge funds have always been a bit exotic and an enigma to some, but bottom line they are supposed to produce good returns using a range of strategies including global macro, event driven and relative value (arbitrage). And, sophisticated or high-net-worth individuals (HNWIs) could

  5. Owen Li 'truly sorry' for blowing up $100m of hedge fund’s assets[more]

    From CNBC.com: A hedge fund manager told clients he is "truly sorry" for losing virtually all their money. Owen Li, the founder of Canarsie Capital in New York, said Tuesday he had lost all but $200,000 of the firm's capital—down from the roughly $100 million it ran as of late March. "I take r