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Laxman Pai, Opalesque Asia: Publicly-traded asset managers in North America and Europe seeing continued record growth in revenue and assets under management in the second quarter following strong market appreciation.
"Recovering from the bleak early days of the COVID-19 health crisis, listed asset managers delivered healthy profit margins and are now re-investing in their businesses with renewed confidence," said the global asset management strategy consultant Casey Quirk, a Deloitte business.
Casey Quirk's analysis of 27 listed money managers with a combined $32 trillion in AUM as of June 30, reveals that combined revenue increased 34.2% in the quarter from the year-earlier period, while AUM increased 5.5% in the second quarter from the second quarter of 2020.
Total profit among money managers reached a record high of $14.9 billion in the quarter, up 93.5% from the same period a year ago. Aggregate revenue rose 16.9% in the first quarter of 2021 versus a similar period in 2020.
Alternatives managers, or those primarily focused on private markets, continue to deliver higher profit margins than traditional firms, or those investing mainly in publicly traded stocks and bonds, as they confront less fee pressure, according to Casey Quirk. The median operating margin was 42% for alternatives managers in the second quarter and 29% for traditional managers, compared with 37% and 21%, respectively, in the year-ago period.
While listed asset managers overall shared ...................... To view our full article Click here
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