For the upcoming report on Mobile Apps for Fund Management, which will be published within the next two weeks, MyPrivateBanking’s analysts evaluated 21 apps from 20 fund management companies worldwide. Surprisingly, the first difficulty came up right at the start of the evaluation process: finding a sufficient number of fund managers who provide an app for their own funds was hard. Most billion dollar fund firms don’t bother to provide mobile apps to the investors of their funds. But why is that the case?
· Fund managers feel that investors don’t need to check their funds frequently, so what’s the use of an app?
· The finance industry as a whole is not really known for its fast adaptation to digital trends – and fund managers are showing a particularly hesitant attitude.
· Fund managers believe that intermediaries are doing their jobs of promoting their funds anyway – so why bothering oneself with an ‘extra’ platform like an app?
· Fund managers think that their good ol’ websites are already sufficiently satisfying their customers’ informational needs.
· Fund managers fear that another communication channel makes their compliance situation even more complex. So why not skip the mobile channel completely?
Should these arguments and barriers be taken seriously or how strong is the case for fund managers’ mobile apps? Don’t miss our upcoming report….