Global Asset Managers to Consolidate in 2014, Moody’s Says

Bank regulations, compliance costs will motivate companies to sell assets, businesses, according to Moody’s report. * Says industry can expect more large strategic deals in benign investment environment * Says smaller managers will drive M&A to get scale, absorb costs from regulation, distribution * Says EU regulations weighing on profitability * Says active managers under pressure from low-fee, passive products, expects increase in use of ETFs, index mutual funds in 2014 * Says outlook for industry stable

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