Institutional investors are spending 30 percent of their time on tasks that do not add value to the investment process, including searching for documents on shared drives, and typing up handwritten notes from meetings.
Only half of their time, or 22 hours a week, is put towards tasks that are key to the investment process, such as meeting with new and existing managers, according to a new survey by investment outsourcing firm Mercer and software company Backstop Solutions.
