Just eight years after their introduction, REITS have become key players in Spain’s buoyant commercial real estate market. The number of listed REITs, which are locally known as SOCIMIs, is growing fast and they have led the recovery in Spanish property.

Citco have been investing in business intelligence systems for tax reporting. Its systems provide fund managers with quarterly tax reports for management information and planning purposes.

Artificial intelligence (AI) can now take over the steering wheel of a car, order last minute additions to the holiday gift list or find an instantaneous answer to that obscure piece of trivia on the edge of your memory. But robotics software may be more useful to fund managers.

Comment & Analysis by Kieran Conroy: This year has been challenging for the industry. Our clients have experienced negative net capital flows through the first three quarters in the amount $30bn representing approximately 3.5% of total assets under administration.