Hedge funds around the world are ramping up their technology spending to provide better service to the growing mix of institutional clients they serve and to ensure they're well prepared to adequately meet increasing compliance and regulatory requirements.

In North America, hedge fund IT spending will grow at a compound annual rate of 4.4% through 2014 while counterparts in Europe and Asia will increase their technology investments by 5.6% and 7.2%, respectively, per year for the next three years, according to a new report from Boston-based financial research and consulting firm Celent.

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