This white paper, commissioned by Clearstream, aims to ascertain the impact that these changing dynamics have had on the main four investment funds processing pillars. For example, it includes an exploration of how the widespread staff-cutting and cost-containment measures that have resulted from the financial downturn have put pressure on the traditionally manually intensive and inefficient middle- and back-office funds processing support functions. It also examines the anticipated impact of the deluge of incoming regulation that is driving increased transparency around fund structures, risk, and costs within the sector. It looks at the pressures facing players in the market such as fund distributors confronted with client demand to increase their range of fund offerings and bring down operational risk.