Research

A tepid affair: The economic and real estate implications of the U.K. November budget

by Himanshu Wani

The United Kingdom pays one of the highest premiums in the developed world on its national debt, with the cost of servicing its existing debt rising more than a third since 2022. The bond market is increasingly scrutinizing all countries’ paths to fiscal sustainability as a condition for lending on reasonable terms. And the United Kingdom is no exception. A key condition underlying the importance of the recent budget is that the government continues to meet its fiscal rule of eliminating the current budget deficit by 2029–2030.

Investors

The silent power of institutional investors in shaping the next generation of investment technology

by Robin Barone

Institutional investors often see themselves as passive recipients of the technology their investment managers choose. They are the true end customers. Investment managers select, implement and operate the systems that ultimately influence how institutional capital is sourced, underwritten, monitored and reported. Since institutional investors are the customers of investment managers, they hold significant power to define the minimum standards for technology consideration, participation and engagement. They already do this in every other part of the manager selection process. They set expectations for reporting, compliance, governance, transparency and performance. The same influence can and should apply to the technology that underpins every workflow across the investment lifecycle. When institutions recognize this role, they unlock the ability to shape the technologies that will support more efficient processes and stronger fiduciary outcomes for decades to come.

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