The success of new or updated client reporting initiatives is closely related to the strength of investment managers' data management systems, according to a new study from systems advisor Citisoft. The paper was based on a review of leading vendors as well as discussions with a range of investment managers in the UK and the US. It covers, in rewarding detail, trends in client reporting, key considerations in data management, analysis of areas of agreement and difference in approach taken by leading vendors and the complexities of reporting alternative investments, with a range of typical issues. Sunil Chadda, one of the authors of the report, said: "The alternatives space is the fastest-moving sector in global financial markets. Innovation, changing market and accounting practices and standards and regulation are the primary drivers for change."