The French asset manager Amundi has attracted most net inflows from European investors year-to-date, narrowly beating Blackrock into second place. A resurgent Pimco saw the biggest amount of flows into active funds, according to Morningstar data.
Most UK fund managers fear the government has no idea what the asset management industry needs from Brexit to secure a good deal, according to research by consultancy MJ Hudson.
Two thirds of asset managers expect it will be “more challenging to achieve growth” in the current market environment, according to a survey by State Street. To still be able to hit their growth targets, they plan to expand operations into new country markets.
Worldwide profits for traditional mutual fund groups fell by close to 3% in 2016, despite higher assets under management, according to a report by McKinsey.
A quarter of the asset management businesses monitored by accounting giant EY have now announced plans to move operations to Europe due to Brexit.
The ‘squeeze’ on asset managers’ balance sheets is well known, while recent deals in the sector have failed to cheer shareholders, but there are nonetheless pointers to the industry’s future winners.
A group of asset managers surveyed by Expert Investor unanimously agreed that the industry will become less profitable over the next three years.
Asset managers see global economic growth accelerating this year, extending an eight-year equity bull market beyond 2017. Fund buyers, however, are a little more guarded.
Europe’s share of the world economy may be declining steadily, but there is at least one area where the continent is growing in importance: asset management revenues. Global asset management companies are deriving an ever growing share of their revenue from Europe, at the expense of the United States.
The UK risks losing its financial passporting rights if it leaves the European single market following the Brexit vote. Some asset managers are taking action to counter this threat, while others sit back and wait.
Further asset management consolidation is on the horizon but the line between predator and prey is increasingly blurred Numis said in a note on Friday.
Asset management companies are starting to struggle explaining their investment philosophy to fund selectors according to a survey by research outfit Cerulli. It asked a selection of European asset managers what they find the biggest challenges in promoting their products to fund selectors.
