Asset managers are feeling unprepared for future challenges despite already making strides to improve fund oversight, according to a survey of North American asset managers.

The research, carried out by Milestone Group, surveyed leading organizations and showed that 40% of respondents felt their current operation was unprepared to meet anticipated regulatory changes and desired an increase in automation. However, approximately 61% would not wait for new regulations to arrive before strengthening oversight, as asset managers and trustees make protecting their reputation and the interests of investors their top priority.

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