New and innovative technology is being demanded by hedge funds and investment in IT is expected to reach $3.3 billion by 2009, according to a Datamonitor report.

"Hedge funds globally will look to use technology to improve execution capability in the front office as they seek competitive advantage," said Nii Barnor, financials services technology analyst with Datamonitor and author of the study. "In addition, service providers need to raise the bar too by offering enhanced reporting functionality and superior connectivity to clients."

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.