Hedge funds face automation challenge

Automation challenge

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For an industry that has been so quick to deploy cutting-edge technology in its trading strategies, hedge funds remain crustily old-fashioned when it comes to other parts of the business. Procedures for handling and processing investor subscriptions have barely changed in decades, and are based largely on error-prone manual input.

That may have to change. A host of new rules – from the US Dodd-Frank Act and European Market Infrastructure Regulation, to the US Foreign Account Tax Compliance Act (