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Alternative Market Briefing

BCG: Global assets under management surpass 2007 level, reach $62tln in 2012

Wednesday, July 10, 2013

Benedicte Gravrand, Opalesque Geneva:

According to a report released yesterday by The Boston Consulting Group (BCG), a global management consulting firm, the global asset management industry has finally started to recover from its four year-long stalling phase.

"Total assets under management (AuM) and profits have nearly regained the levels both had reached before the financial crisis," the announcement says. "Global AuM rose to $62.4 trillion in 2012, surpassing the 2007 record of $57.2 trillion. Operating margins rose to 37 percent of net revenues and profit increased to $80 billion, although it remained roughly 15 percent below pre-crisis highs."

BCG's eleventh annual study of the worldwide asset-management industry, Global Asset Management 2013: Capitalizing on the Recovery further notes that while these results show a recovery, the AuM growth was more influenced by the increase in global equity and fixed-income markets than by net new asset inflows. The latter remained relatively modest, at 1.2% of global AuM, going mostly to "solutions, specialties, and passive asset classes rather than to the actively managed core assets of traditional players." Furthermore, a quarter of traditional managers experienced significant outflows.

"The most successful managers," the announcement states, ......................

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