Jul
11
Asset Management Revenue Falls in 2016 for First Time Since 2008
By-
Industry reaches ‘tipping point’ as fee pressure builds
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Hedge funds and private equity among hardest hit, BCG says
Rising markets aren’t a haven for money managers.
For the first year since the 2008 financial crisis, revenue earned by asset management firms globally fell in 2016 along with profits, according to a report Tuesday by Boston Consulting Group. While assets under management increased 7 percent to $69 trillion, most of that growth came from rising markets while net new money from investors was little changed from recent years.
“The biggest thing is this whole notion around continued growth of assets but decline of the profit pool,” said Brent Beardsley, the global leader of BCG’s wealth and asset management practice, and an author of the report. “We’ve reached this tipping point.”…
Asset Management Revenue Falls in 2016 for First Time Since 2008
