Hedge fund managers are set to invest more in technology to protect against cyber crime, according to a survey by KPMG. About 65% of 100 hedge fund leaders and executives said they will spend significant or very significant amounts on cyber security in the next five years, while 83% said cybersecurity is an important technological capability. The survey, which was conducted last year, found that about half (52%) of those surveyed believe their firms have been hacked at least once over the past year.
Hedge fund managers are set to invest more in technology to protect against cyber crime, according to a survey by KPMG. About 65% of 100 hedge fund leaders and executives said they will spend significant or very significant amounts on cyber security in the next five years, while 83% said cybersecurity is an important technological capability. For hedge fund managers with more than $5bn under management, 31% said that cybersecurity is an area where they had a competitive advantage versus 14% for middle-sized firms.