Hedge fund IT spend to top $900 million by 2007

NEW YORK – Hedge fund technology spending will grow from $800 million to more than $900 million within the next three years in order to satisfy investment information requirements, maximise investment strategies and increase assets under management.

According to a recent report entitled Hedge Fund Investment Process and Information Technology Spend, carried out by New York consultancy PA Consulting Group, in which 51 US-based hedge funds were polled, respondents of all sizes (ranging from