Delivering alpha for investors in a consistent and efficient way is what all leading investment management firms strive to do. Reinvesting in the firm should support alpha generation, enhance the client experience, and improve operational efficiency.

The challenge for investment management leaders is the need to balance employee expectations with the long-term ability to create a meaningful, cohesive, and durable organisation culture when many employees may not be present in the workplace.

While the last few years have been difficult for the investment management industry, the expectation is that the next few years will present new challenges. Respondents to the survey cite inflationary pressure and the geopolitical landscape as negatively impacting firms. A prolonged economic downturn would put further pressure on margins. Should the uncertainty surrounding the macroeconomic environment and technology-related cost increases continue through 2021, the gap between the most successful investment managers and those trying to catch up could widen.