Many asset managers are struggling to make sense of the deluge of data they receive on a daily basis.

A study by Northern Trust, which polled 200 fund managers at the end of last year, found only a handful (13%) of respondents successfully capture the full value from all of their data.

Meanwhile, nearly a third reported that the volume of data makes it difficult to determine what is useful.

“This survey confirmed for us what we recognize as some of our clients’ biggest challenges,” said Pete Cherecwich, Americas head of corporate & institutional services at Northern Trust.

“Whether they are looking for ways to manage their investment decisions, monitor their risks, or improve their reporting, they need to extract more value from their data to gain actionable insights.”

The survey, done in partnership with the Economist Intelligence Unit, also showed that those who believe their organisation captures value from data “entirely” or “fairly well” also say that their data strategy is “mostly” or “entirely” flexible.

Flexible data strategies often come with monthly or quarterly assessments to review the effectiveness of their approach.

Northern Trust said the findings “underscore the importance of a nimble approach” to data management.

The firm reckons investment houses should set up a centralised leadership structure, orchestrated by an individual or team with a holistic overview of the company to leverage data more effectively.