Alternative asset fund managers are becoming less fixed in terms of their service provider relationships, says specialist data provider Preqin.

In a new paper, it notes that service providers have had to adapt quickly to meet their needs: the industry has become more global, regulatory demands have increased, technology has advanced, and competition has ramped up.

Based on its October 2019 fund manager survey, dissatisfaction with the quality of service and cost have been the main reasons why private capital fund managers have chosen to change their service providers.

In the past 12 months, 46 percent and 31 percent of fund managers have changed their accountants and fund auditors respectively. Furthermore, the survey finds that the smaller fund managers are, the more likely they are to have changed service providers.

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Alternative asset fund managers are becoming less fixed in terms of their service provider relationships, says specialist data provider Preqin.

In a new paper, it notes that service providers have had to adapt quickly to meet their needs: the industry has become more global, regulatory demands have increased, technology has advanced, and competition has ramped up.

Based on its October 2019 fund manager survey, dissatisfaction with the quality of service and cost have been the main reasons why private capital fund managers have chosen to change their service providers.

In the past 12 months, 46 percent and 31 percent of fund managers have changed their accountants and fund auditors respectively. Furthermore, the survey finds that the smaller fund managers are, the more likely they are to have changed service providers.