This was meant to be a CEO Tapes discussion which gave specific examples of how access to new sources of data could make fund managers better investors.
But we quickly veered off into the controversial area of some data sets being made available to a few or maybe one fund manager prepared to pay a lot for it.
The participants were animated in their objection to this.
There needs to be sound practices making the data available to all. Then fund managers could bring their insights to it, and the quality of those insights would differentiate them.
The discussion then turned to technology and the huge impact it is and will continue to have on fund management and distribution.
One participant gives an example which has “completely transformed” the way they have been investing. Wisdom and judgement (from the humans) will still be important for the foreseeable future on the fund management side.
From the customers’ point of view there are times when they might prefer an automated system to deal with and others when they want a human. The reality is people want both, says one of the CEOs.
The participants were:
*Andrew Schlossberg - chief executive officer, Invesco EMEA
* Hanneke Smits - chief executive officer, Newton Investment Management
* Lucy Macdonald - chief investment officer global equity, Allianz Global Investors GmbH
* Sridhar Chandrasekharan - global chief executive officer, HSBC Global Asset Management
You can view the previous two episodes of the CEO tapes below: