Investment management executives are more optimistic this year and indicate that revenues and hiring are increasing, according to KPMG’s 2013 Investment Management Business Outlook Survey.
Eighty-one percent of senior executives have seen their revenues increase, while only 60% saw a revenue increase in last year’s survey. Additionally, 84% of respondents this year, compared to 60% in last year’s survey, believe their revenues will continue to increase over the next year.
When it comes to looking for the nest area for growth, 57% named the U.S. the most promising region for asset growth, with Asia and the Pacific region following at 28%. KPMG’s survey polled 104 U.S. senior executives representing mutual funds, private equity funds, hedge funds, trusts, managed funds and other funds.
In light of the growth and positive outlook, executive also expect to see job growth, with 46% saying headcount has increased over the past year and 48% expecting more hiring over the next year.
[For more on IT hiring trends in financial services, read: Available Financial IT Jobs Decrease.]
The increase in revenues may also indicate an uptick in IT spending with, 39% of polled executive expect to increase spending in information technology.
However, executives still have concerns when it comes regulation and political environment. Fifty-five percent believe appropriately complying with new regulation will be the most costly expense over the neat year and 57% of executives believe that political and regulatory uncertainty remains the biggest threat to business models. Zarna Patel is a staff writer for InformationWeek's Financial Services brands, which include Bank Systems & Technology, Insurance & Technology and Wall Street & Technology. She received her B.A. in English and journalism from Rutgers University College of Arts and Sciences in ... View Full Bio