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Global Capital Markets / Buy Side IT Priorities and Strategy in 2023

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21 July 2023
Cubillas Ding
Janey Speed

The Great Digital “Coming of Age” Drives Transformational Shifts in the Building Blocks of Investing

Abstract

The top 100 asset managers experienced average AUM drops of 15-20% in 2022, with macroeconomic gyrations continuing into 2023 across different regions. For the buyside in general, this is a wake up call. Market fluctuations are underlining the need to address the issue of persistent margin pressures. It is also a reminder that for most (if not all) firms, doing nothing is not an option, as longer-term structural factors (investor demands, regulatory pressures, passive investing, fee compression, and technology trends) demand that firms respond more strategically from a business model and operational perspective.

In this year's survey, many firms are focusing their investment budgets on sharpening product and advisory offerings to discover unique investment propositions in an increasingly crowded market. There is active experimentation and take up of adoption-ready, ‘at-scale’ innovations through cloud-enabled technology strategies, with a strong desire to exploit sophisticated data analytics and AI/ML into core frontline investment functions and drive more timely, accurate, and forward-looking insights.

Ambitions and aspirations aside, the journey ahead remains a 'digital coming of age' story. Buyside firms that pursue transformation efforts must ensure that their core 'investment engine’ can deliver a wide range of asset types/strategies, is modernized for efficiency and digital, while evolving to becoming more adaptable. Whether building or buying, the trajectory of technology investments around innovation should be geared towards greater modularization of investment building blocks, personalization of products and customer/investment journeys, and value-added AI-augmented, predictive analytics.

To understand current trajectories and exactly what this means for the industry, Celent has completed its Global Capital Markets/Buyside IT Strategy Survey. The views of over 168 buyside executives across institutional segments (asset managers, pension funds, mutual funds, hedge funds, and sovereign wealth funds) highlight exactly which technologies, product investments and strategic priorities lead their agendas.

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