79% of asset managers expect new competition from non traditional market entrants such as technology firms, a survey by State Street has suggested.
The State Street 2015 Asset Manager Survey of 400 asset managers shows that leading players in the industry are finding new ways to create value for their clients.
As part of this, the survey results showed, managers are revamping their investment strategies, upgrading their capabilities, and hunting for acquisitions that could extend their expertise or reach.
Competition is by many felt to be coming not just from traditional rivals but from tech-savvy challengers.
“Indeed, a comparison with our 2014 study shows some significant shifts in asset managers’ perceptions of risk and opportunity.
“The most enterprising asset managers are responding by ‘bringing more to the table’ in their client relationships. Delivering greater value to customers doesn’t just mean achieving consistently high returns.
“It means forging closer partnerships with investors based on a transparent dialogue around risk and performance,” the report reads.
Riccardo Lamanna (pictured), Italy country head of State Street Global Services, has been presenting the results of the survey in Italy too, where the asset management industry has been booming over the past couple of years.
“The survey’s results match what we have been seeing over the last two-three years. There’s great optimism and a general positive mood about a consistent growth which is a result of higher liquidity levels in banks as well as of new behaviours among asset managers, as the survey has shown,” Lamanna says.