Asset managers are struggling to exploit the deluge of data available to them in full, a survey finds.

A small fraction of around 200 asset management and insurance executives polled in a recent global survey say they capture the full value of the data that bombards them daily, suggesting the sector faces a tall hurdle to overcome in making the most of information.

The survey was carried out by the Economist Intelligence Unit and sponsored by US-based banking group Northern Trust. About half of the respondents work for managers with assets of more than $50 million. Geographically, respondents were split between the US and Europe.

While the fieldwork was conducted among asset managers and insurers, the lessons from the survey should also resonate with wealth managers and private banks seeking to exploit data to the full.

Only 13 per cent of respondents indicated they successfully capture the full value from all of their data. Nearly 30 per cent reported that the volume of data makes it difficult to determine what is useful, the report said.

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

The survey showed executives who think their organisation captures value from data “entirely” or “fairly well” also say twice as often (67 verses 33 per cent) that their data strategy is “mostly” or “entirely” flexible.

The survey was conducted in the third quarter of 2015.