Global fund management firms are struggling with a skills shortage as the industry moves towards multi-asset investing in an attempt to improve returns, a study showed on Monday. With stock markets struggling to match the stellar gains of 2013, bond markets looking overpriced and emerging markets offering only patchy value, many investors are looking for flexibility in their investments.That means more money going into funds that can invest across the range of asset classes instead of just one, the study by State Street and research group FT Remark found.It surveyed 300 senior executives at asset management firms across Europe, the Asia Pacific, and North America in April and May, and found more than two-thirds aimed to focus on expanding their multi-asset offerings over the next three years.At the same time, 64 percent acknowledged that a "capability gap" was causing them to struggle to adapt and compete in the new investment landscape.
State Street Corporation (State Street) is a financial holding company. Shares of STT fell by 0.13% or $-0.09/share to $67.61. In the past year, the shares have traded as low as $62.67 and as high as $76.24. On average, 2341640 shares of STT exchange hands on a given day and today's volume is recorded at 1597668.
Source
