Nearly half of institutional investors (48%) believe that emerging technology will be key to growth over the next five years, according to a survey of more than 500 global asset managers commissioned by State Street.
The findings represent a significant increase from last year when just 18% of respondents thought that emerging technology, including blockchain and artificial intelligence, would be a top enabler of growth.
The survey also found that more than two-thirds (68%) of institutional investors are concerned about their ability to hit their growth objectives within the current market environment.
Meanwhile, 72% of asset owners expect to adopt a more defensive investment strategy and the same percentage of asset managers will slow their plans for expansion over the next five years.
“As this survey demonstrates, the investment industry is in the midst of unprecedented change,” said Liz Nolan, State Street’s chief executive officer for Emea.
“Our clients face increasing complexity and regulatory expectations, as well as the need to upgrade technology and improve their data management; all the while carefully managing costs.”
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