LONDON, July 14 Intense competition among global
fund managers is forcing them to invest in a broader range of
instruments, products and geographical areas to squeeze out
extra performance, a survey on Monday showed.
More than three-quarters of respondents said they planned to
go global and ditch their country-specific approach over the
next 12 to 18 months, according to the study, a survey of 37
asset managers and 21 asset servicers by financial services
support firm Sungard and research and advisory firm AITE Group.
Increased regulation around the world was hampering that
drive, however, so many firms were looking to outsource non-core
services, automate operations where possible and make better use
of technology, it said.
"Asset managers and service providers are facing
unprecedented levels of pressure and complexity as they seek
ways to grow their businesses," said Tony Warren, executive vice
president product development, asset management at SunGard.
(Reporting by Simon Jessop; Editing by Larry King)