Asset managers expect growth, but are they prepared?

March 26, 2014

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Recently, PwC released the results of its 17th Annual Global CEO Survey – Asset Management Sector (full details and analysis of the survey can be found on the PwC site by clicking here). The survey set out to learn how CEOs and business leaders around the globe feel about the future of their business and the outcome was… optimistic!  

While the recovery of the financial services sector has been slow, PwC’s research and survey shows that conditions are favorable to expansion. Business leaders in the asset management sector are projecting both organic and inorganic growth over the rest of the decade. Here are some key statistics:

  • 97% of the survey respondents are confident about their revenue prospects over 3 years
  • 58% percent of CEOs are planning to hire in 2014
  • 41% are growing through M&A, joint ventures and alliances
  • To support this growth, 81% of CEOs see technology as a tool to transform their business
  • 89% said that IT needs to be prepared to capitalize on transformative global trends
  • As a result, 53% of CEOs are changing their technology investments.

This prospect for growth is leading asset managers to ask themselves “How do I prepare my business for growth and differentiate in a globally competitive market place?”

As asset mangers gain more confidence in the recovery, they are implementing more aggressive strategies to capitalize on the growth potential. For example, front-offices are pursuing more complex and diverse investment strategies to compete in a global marketplace. But as firms look to execute these strategies, many are finding that their operations platforms are not keeping pace with the needs of the market. Modern accounting systems are growth enablers, whereas poorly developed and maintained systems are costly, risky, functionally lightweight and can inhibit growth.

Implementing a proven accounting solution, such as SS&C PORTIA, allows asset managers to grow while ensuring the integrity of their operations. Accounting solutions must offer global processing to support revenue growth, provide visibility and control of operations to reduce risk, and be manageable by operations teams to reduce total cost of ownership. SS&C PORTIA provides a clear advantage for asset managers who need an accounting solution that can grow and adapt with their business, which is why firms ranging from small, domestic asset managers to the world’s largest and most global financial institutions rely on SS&C PORTIA to power their operations and fuel their growth.

–          Matt Bellias, Head of Strategy and Marketing

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