Northern Trust Survey: Asset Managers Pursue ‘Right Product, Right Fit’ Strategy to Drive Distribution
01 Mayo 2024 - 3:00AM
Business Wire
Global survey of 300 investment managers
reflects importance of data quality to develop products that are
targeted to unique investor needs.
Investment managers are prioritizing the quality and accuracy of
their products to enhance the investor experience and grow their
distribution in the next two years, according to a survey of 300
global asset management firms sponsored by Northern Trust.
Northern Trust today issued a white paper, The Next Chapter in
Driving Growth in Asset Management 2024, that illustrates how asset
managers are enhancing the investor experience through increased
quality and accuracy, targeted distribution strategies, better data
management and outsourcing.
Less than half (46%) of respondents identified controlling costs
as their top strategic priority in the next two years, while 72%
chose enhancing quality and accuracy, improving the investor
experience (70%), and expanding product set (60%) as their top
concerns. The results marked a shift from manager priorities in
Northern Trust’s prior survey in 2022, when just 45% of managers
identified enhancing quality and accuracy as the top priority,
behind efficiency and cost controls.
“Asset managers are focused on honing their distribution
channels, and having access to high-quality, consistent data is
crucial in driving those decisions,” said Ryan Burns, Head of
Global Fund Services (GFS), North America. “It’s important that
managers have a deep understanding of their clients’ needs so they
can find them the right product at the right time, because there is
no one-size-fits-all solution.”
The survey, conducted for Northern Trust by WBR Insights,
highlighted that 83% of respondents plan to change their product
strategy in the next two years, with a focus on meeting diverse
investor needs.
“Managers who over the last few years have focused on removing
cost from their operating models have recalibrated their focus
toward their investors,” says Caroline Higgins, Head of Global Fund
Services (GFS), APAC. “In the Australian market especially,
managers are tweaking their strategies to service an aging
demographic. As the demographics of investors change, they must be
flexible with product offerings to meet the demand.”
While managers continue to face cost pressures, the impact of
T+1 and a challenging economic environment are influencing the ways
that managers approach outsourcing non-core activities. Namely, 59%
of respondents are looking to outsource securities finance and a
similar trend emerges when it comes to liquidity management,
trading and foreign exchange.
Data management was overwhelmingly identified as the area where
asset managers are considering outsourcing (83%), and almost half
(42%) of respondents identified their biggest challenge with data
management as ensuring that the data is easily
understandable/consumable and insightful.
“Many of the challenges we’re seeing today come back to the same
core issue: data,” says Clive Bellows, incoming President of
Northern Trust in Europe, Middle East, Africa (EMEA). “As a result,
managers are looking to leverage new technology, and the survey
found that many managers are looking to enhance their data
management strategies by engaging their custodians for outsourced
solutions.”
The white paper The Next Chapter in Driving Growth in Asset
Management 2024 can be accessed here.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider
of wealth management, asset servicing, asset management and banking
to corporations, institutions, affluent families and individuals.
Founded in Chicago in 1889, Northern Trust has a global presence
with offices in 24 U.S. states and Washington, D.C., and across 22
locations in Canada, Europe, the Middle East and the Asia-Pacific
region. As of March 31, 2024, Northern Trust had assets under
custody/administration of US$16.5 trillion, and assets under
management of US$1.5 trillion. For more than 130 years, Northern
Trust has earned distinction as an industry leader for exceptional
service, financial expertise, integrity and innovation. Visit us on
northerntrust.com. Follow us on X (formerly Twitter) @NorthernTrust
or Northern Trust Corporation on LinkedIn.
Northern Trust Corporation, Head Office: 50 South La Salle
Street, Chicago, Illinois 60603 U.S.A., incorporated with limited
liability in the U.S. Global legal and regulatory information can
be found at https://www.northerntrust.com/terms-and-conditions.
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version on businesswire.com: https://www.businesswire.com/news/home/20240501214376/en/
Europe, Middle East, Africa & Asia-Pacific:
Camilla Greene +44 (0) 20 7982 2176 Camilla_Greene@ntrs.com
Simon Ansell + 44 (0) 20 7982 1016 Simon_Ansell@ntrs.com
US & Canada:
John O’Connell +1 312 444 2388 John_O’Connell@ntrs.com
http://www.northerntrust.com
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