Asset Management Revenue Falls in 2016 for First Time Since 2008
- Industry reaches ‘tipping point’ as fee pressure builds
- Hedge funds and private equity among hardest hit, BCG says
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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.