Until recently, risk management software suppliers ignored fund managers. They concentrated on developing systems to manage market risk, then credit, and then operational risk for banks, leaving fund managers pretty much to their own devices. Unable to develop these systems themselves, most fund managers coul not afford the bank-oriented systems either.

But now the situation is changing dramatically. Because a large proportion of banks now have systems in place, the software suppliers are looking for a new market and are tailoring their systems for the buy-side.