Money managers including State Street, Pimco and Amundi are pouring money into digital investment platforms in hopes of emulating BlackRock’s technology business, which is bringing in new revenue even as falling markets hit fees from their core investment clients.
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Asset managers pour money into tech platforms to take on BlackRock
“Over the past 10 years the top 100 asset managers have been coalescing around a smaller set of technology vendors,” said Alex Heasman of consultancy Alpha FMC, which helps investment managers purchase IT. “Aladdin was absolutely in the right place at the right time . . . but it’s not the only choice out there.”
