Hedge fund IT spending to fall below $1 billion

A new Tabb Group report, Hedge funds and technology: Automation and the feedback loop, surveyed 61 US hedge fund managers over the first half of 2008, examining funds' trading and back-office technology requirements and how they will square those needs with difficult market conditions and smaller budgets.

The report cites conservative forecasts that hedge fund technology spending will drop 40%, from $1.45 billion in 2008 to $882 million through 2009. Of course, smaller IT budgets in no way

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