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Matthias Knab, Opalesque: A study by research firm Peltz International has found that only 13% of hedge funds have dedicated in-house personnel to handle cyber security. In a survey of more than 30 hedge fund managers with an average of $1.2bn in assets, Peltz also found that 37% of fund managers outsource their cyber security requirements while 50% have a combination of internal or external personnel.
But the survey entitled, Hedge Fund Manager Views and Experiences with Cyber Security said that 17% of surveyed hedge funds have experienced one cyber attack while another 10% have experienced more than one cyber attack.
Lois Peltz, president of Peltz International, observed, "The average hedge fund organization surveyed budgeted $51,000 a year on cyber security issues. About 60% of the surveyed managers have had an external organization provide a cyber security assessment while another 27% are considering doing so."
Those who experienced cyber attacks do not consider them as serious. In rating that attack, on a scale of one to 10 with one being no impact and 10 being catastrophic, managers rated the attack an average of three.
Surveyed managers rate cyber security high on the company's priority list - eight on a scale of one to 10 (with 10 being most important). Surveyed managers rated their organization's security policies relatively high - seven on a scale of one to 10.
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