To address the evolving technology component, hedge funds are increasingly looking to cloud services. Cloud computing allows firms to use a scalable, fully-managed technology platform for delivery of business functionality, application hosting and complete IT outsourcing.
To more fully understand cloud computing adoption trends in the investment management industry, Eze Castle Integration commissioned IDG Research to execute a market survey. Key questions that were answered by 125 US-based hedge funds and investment management firms included:
• A firm’s first cloud initiative and current use of the cloud for services;
• Deployment model being utilised;
• Key factors driving a firm to select cloud services; and
• Real or perceived barriers to cloud deployment.
The one compelling statistic to come out of the survey was that more than eight out of 10 investment firms contacted (87%) indicated they were either currently using or planning to use some form of cloud services in the near future. Eighty-seven percent is noteworthy and helps dispel the talk that cloud computing is a passing fad. Survey responses validate that cloud computing is a major consideration for firms and will continue to be as firms seek to capitalise on the real benefits this technology has to offer.