In Ernst & Young’s (EY) recently published 2017 Global Hedge Fund and Investor Survey, the consultancy found that 57 percent of hedge fund managers surveyed were embracing innovation to improve their operational efficiency and broaden their asset base, to avoid falling behind competitors and to tackle industry challenges such as disruptions to the marketplace.
In fact, in the same survey, around a third of investors said they wanted managers to embrace innovation in the front office, recognizing the importance of staying ahead and using advanced data.
“The pace at which the hedge fund industry is being disrupted continues to accelerate, as advances in technology bring new threats, but also opportunity,” Michael Serota, EY global hedge fund services leader, noted in a release accompanying the survey, published last month.
“The evolving landscape forces managers to not only be reactive but also proactive in identifying novel solutions that allow them to deliver alpha and remain competitive. Managers of all sizes are embracing innovation to stand out in a crowded hedge fund universe and to achieve a common strategic objective: growth.”
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