Press release
Northern Trust Survey: Asset Managers Take a Closer Look at New Ways of Operating to Create Efficiency and Control Costs
Global survey of 300 investment managers details how evolving operations models, changing investment strategies and emerging asset classes impact views on
About this update from Northern Trust Corporation
[{"type":"text","content":"\nGlobal survey of 300 investment managers details how evolving operations models, changing investment strategies and emerging asset classes impact views on outsourcing\n\n CHICAGO--(BUSINESS WIRE)--\nInvestment managers are most concerned about creating efficiencies across their operations in the next two years, followed closely by a focus on cost and enhanced quality and accuracy, according to a survey of 300 global asset management firms sponsored by Northern Trust.\n\nNorthern Trust today issued a white paper, The Next Chapter in Driving Growth in Asset Management, that offers insights into how asset managers can create greater efficiency and control costs by leveraging technology and outsourcing functions that may not be core to their investment process and viewing operations through the lens of their whole office, from front to back, including investment decision support activities and data management.\n\n“As we are coming out of a two-year pandemic in which operating models were strained or challenged, there has been a renewed focus on efficiency, and how talent and technology can enable that,” said Ryan Burns, Head of Global Fund Services (GFS), North America. “The most successful asset managers are leveraging new technologies and operational approaches, while also seizing the benefits of outsourcing, to enable more efficient and effective decision-making.”\n\nThe survey, conducted for Northern Trust by WBR Insights, shows asset managers struggling with some of the same issues identified in a 2020 survey, while the global pandemic is causing many to look harder at outsourcing as a solution.\n\nWhile 50% of respondents said their key strategic priority for the next two years will be creating greater efficiency, nearly as many (47%) also plan to focus on cost control and 45% said enhancing quality and accuracy was a top priority.\n\nThe new way of working following the global pandemic has influenced investment managers’ views about outsourcing. Particularly, respondents said the remote work environment (60%), cost of maintaining in-house capabilities (52%) and staffing challenges (51%) have increased their likelihood to outsource.\n\n“There are many challenges facing managers – employee turnover, staff returning to offices, managing costs,” says Caroline Higgins, Head of Hong Kong, Macau and Taiwan. “With so many questions...