#Hedgefunds to spend US$2.09 #billion on information technology in 2011

INTERNATIONAL. Hedge funds will spend approximately US$2.09 billion on information technology (IT) in 2011, representing an average of approximately nine basis points of assets under management, according to the Prime Finance 2011 IT Survey released today by Citi (NYSE:C) Prime Finance, a multi-broker, multi-strategy integrated business unit comprised of prime brokerage, financing solutions, business advisory and capital introductions, and First Derivatives, a global provider of software and consulting services to the financial services industry.

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