New York — Hedge fund spending on information technology will fall 20.5% this year—$1.35 billion compared to $1.7 billion in 2008, according to research firm Celent and reported by Chris Kentouris, Securities Industry News.
Due to deleveraging, losses caused by redemptions and pressure on fee structures, the “overarching theme of IT strategies in 2009 will be a focus on realizing efficiency wins from existing applications infrastructure while lowering maintenance costs, or at least keeping the status quo,” said Boston-based Celent in a new report. “Spending on new technology will take a back seat. Unless faced with a collapsing platform, large-scale system acquisitions or replacements are expected to be postponed.”
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