Highlights from the study include:
“There is hope in the study’s finding that, in pursuit of a better alignment of interest with clients, asset managers are shifting their emphasis from product-push to product-pull," says Pascal Duval, CEO Russell Investments.
Prof. Amin Rajan explains “Asset managers can no longer have a scattergun approach in the hope that one of their products will hit the bulls eye”.
Further, Prof. Amin Rajan found that:
- Asset managers have been effective at generating ideas but executing and evaluating initiatives remains problematic
- Success is about striking a balance between product-pull and product–push – current approaches to innovation lack balance: they require greater emphasis on skills, processes and client engagement (fig 1.1 below)
- Collaboration is the new alpha behind alpha - managers should seek smarter ways of streamlining processes with enterprise collaboration, exploiting that tacit knowledge or corporate memory that resides in accumulated experiences and insights of colleagues
- A growing number of asset managers are adopting more rigor in the way they design, create and deliver funds
- Regulators are demanding greater transparency, shareholders push for improved operational efficiency and customers demand solutions not products. But asset management companies still rely on manual processes in many key aspects of the business
To find out more about the study click here.