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Alternative Market Briefing

Global assets under management (AuM) rose 11% to $88.5tn: McKinsey

Friday, December 21, 2018

Laxman Pai, Opalesque Asia:

Global assets under management (AuM) for money managers rose 11%, hitting a record $88.5tn in 2017, said just-released annual review by McKinsey.

"While market appreciation accounted for a significant proportion of this growth, the industry sustained healthy levels of organic growth with about $2tn of new money flowing into the system, also an all-time high," pointed out the report "North American Asset Management in 2018: The New Great Game".

North American managers pulled in a record of more than $683bn in net new flows to managed assets while industry profits grew some 20% to $44.5bn.

The asset management industry enjoyed a banner year in 2017. With broad-based global economic growth seeming to finally take root and economic policy taking a decidedly investor-friendly course, global capital markets surged across all regions and all asset classes.

At year's end, the S&P 500 and MSCI World index stood 19% and 22.4% above 2016 levels as risk appetites revived globally.

The asset management industry's strong performance was broad-based. Three of four major regions-North America, Western Europe, and Emerging Asia-took in substantial new money, each accounting for approximately a third of global growth.

Asset managers were rewarded with surging profit pools, in the range of 18 to 20% in each of these markets.

North American asset management was particularly robust in 2017, bouncing back from a tepi......................

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