FundForum once again brought together leaders from across the asset management ecosystem, creating an opportunity to hear firsthand how firms are thinking about growth, innovation, and the challenges ahead.
A few themes surfaced repeatedly throughout conversations with asset managers, ETF issuers, wealth managers, index providers, banks, and technology firms. While each organization is navigating its own priorities, there was a clear sense that the industry is entering a new phase where product innovation, technology adoption, and operating model transformation are becoming increasingly intertwined.
ETFs Continue to Lead the Growth Story
ETFs remain one of the most active areas of investment across the industry. Firms are launching new products at pace, expanding distribution capabilities, and exploring increasingly targeted themes and exposures.
What stood out was how collaborative the ETF ecosystem has become. Many successful launches rely on a network of partners providing index expertise, technology, analytics, operational support, and product infrastructure. As competition increases, speed to market and operational scalability are becoming just as important as the product idea itself.
From our perspective, this represents a natural extension of capabilities we have already built across the ETF ecosystem. Through our expertise in indices, analytics, quantitative solutions, technology, and investment operations, we support clients across multiple stages of the ETF value chain. FundForum reinforced both the strategic relevance of these capabilities and the opportunity to deepen our role across the ETF lifecycle as firms seek greater speed, scalability, and innovation.
"FundForum reinforced a clear industry shift: sustainable competitive advantage in ETFs is no longer driven by product innovation alone, but by how effectively firms integrate data, technology, operations, and investment expertise. As the ecosystem becomes more complex, the winners will be those that can connect these capabilities at scale to accelerate innovation and deliver better investor outcomes."
Integrated Investment Ecosystem
One theme underpinning many conversations was the growing convergence of traditionally separate functions. Product development, data management, operations, technology, analytics, and client servicing are becoming increasingly interconnected. Firms are no longer evaluating these capabilities independently; they are assessing how effectively they work together to support innovation, scalability, and growth.
This shift was particularly evident in discussions around ETFs, where successful product launches increasingly depend on the seamless coordination of data, analytics, technology, operations, distribution, and client support. More broadly, firms are moving away from optimizing individual functions and toward building integrated operating models that can accelerate innovation and support growth at scale.
This evolution creates opportunities for partners that can provide integrated solutions rather than isolated services.
AI Has Moved Beyond the Pilot Phase
AI was present in almost every discussion, but the tone has noticeably changed from previous years.
The focus is no longer on experimentation. Firms are now looking at how AI can improve investment research, streamline data management, accelerate product development, enhance client experiences, and support operating model transformation.
What was most striking was the practical nature of these conversations. The discussion has shifted from what AI can do to how it can deliver measurable business outcomes. Organizations are looking for ways to increase productivity, improve scalability, and help teams focus on higher-value work.
Data and Operating Models Are Under the Spotlight
As products become more sophisticated and data requirements continue to grow, many firms are reassessing how their operating models need to evolve.
There was significant focus on modernizing data infrastructure, improving operational workflows, and creating more scalable service models. Increasingly, firms view operational efficiency not simply as a cost consideration but as a source of competitive advantage.
The challenge is no longer access to data. The challenge is turning growing volumes of data into timely insights while maintaining quality, control, and transparency.
"The convergence of AI, data modernization, and operating model transformation is reshaping the asset management industry. What stood out at FundForum was how closely product, data, technology, operations, and client-facing functions are becoming interconnected. Firms are looking for practical ways to scale and innovate across these areas, with a clear focus on turning innovation into measurable business impact. This aligns closely with Evalueserve's evolution into a strategic partner, combining data, analytics, technology, operations, and AI to help clients grow and transform."
Digital Assets Continue Their Evolution
Interest in digital assets remains strong, particularly around crypto ETFs, crypto indices, and tokenized investment products.
While adoption levels vary across firms, there is growing recognition that digital assets are becoming part of the broader investment landscape. Conversations reflected a desire to better understand how these products fit within existing investment and distribution models, particularly as institutional participation continues to increase.
From our perspective, this represents a natural extension of capabilities already developed across indices, analytics, and data management.
Private Markets and Customization Remain Key Areas of Focus
Investors continue to seek more tailored investment solutions and differentiated sources of return.
As a result, managers are expanding their focus on thematic strategies, customized products, private markets, and alternative investments. Across these areas, firms are looking for ways to scale research, analytics, reporting, and operations without increasing complexity at the same pace.
Technology, data, and flexible operating models are becoming critical enablers of that growth.
Evalueserve's Perspective
One of our biggest takeaways from FundForum was the scale of opportunity emerging around the ETF market.
The ecosystem is growing rapidly, with new entrants often relying on specialist partners to bring products to market efficiently. Evalueserve is already supporting clients across several critical components of the ETF value chain, and our FundForum discussions validated the relevance of these capabilities in an evolving market. Looking ahead, we see a clear opportunity to strengthen our position at the front end of the ETF ecosystem - partnering more closely with clients on product innovation, fund launches, analytics, and technology-driven solutions, while continuing to leverage our strong foundation in index services and investment operations.
Digital assets also represent a compelling adjacent opportunity. As institutional adoption of crypto indices, crypto ETFs, and tokenized investment products continues to evolve, the need for trusted data, analytics, technology, and operational support will only increase.
Most importantly, FundForum provides valuable validation of market demand and direct access to decision-makers shaping the future of asset management. The conversations reinforced that firms are looking for partners who can combine domain expertise, operational scale, and technology capabilities to help them navigate an increasingly complex environment.
Final Thoughts
The strongest message from FundForum was not the rise of any single trend. It was the convergence of multiple trends and capabilities.
ETFs, AI, digital assets, data modernization, and operating model transformation are no longer separate conversations. Together, they are reshaping how investment firms build products, serve clients, and scale for the future.
At the same time, firms are increasingly breaking down traditional boundaries between product, data, technology, operations, analytics, and client-facing teams. Competitive advantage is increasingly defined by how effectively these capabilities work together to drive innovation and execution at scale.
For Evalueserve, the event confirmed that our existing capabilities are well aligned with where the market is heading while highlighting clear opportunities to deepen our role across the evolving investment management ecosystem.
