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Laxman Pai, Opalesque Asia: Publicly-traded U.S. and Canadian money managers tracked by strategy consultant Casey Quirk produced record aggregate revenue of $84.3 billion in 2021, up 43.4% from the prior year, fueled by double-digit equity market appreciation in the U.S. and developed markets.
According to an analysis by global asset management strategy consultancy Casey Quirk, a Deloitte business, aggregate revenue for the 17 asset managers in the Casey Quirk sample reached $84 billion in 2021 versus almost $59 billion in 2020.
The median operating profit margin, as measured by EBITDA (earnings before interest, taxes, depreciation, and amortization), rose to 32% in 2021 from 28% in 2020, said the study.
Total assets under management (AUM) increased 15% to nearly $20 trillion at year-end 2021 from a year earlier, according to Casey Quirk's analysis of 11 traditional and six alternative asset managers.
Expense growth was 15% higher in 2021 than in the year-earlier period, according to the Casey Quirk analysis, fueled by compensation spending, which rose 22%.
While asset managers overall enjoyed superior revenue growth in 2021, alternatives managers, or those primarily focused on private markets, far outperformed traditional firms, or those investing mainly in publicly traded stocks and bonds.
Alternatives managers in Casey Quirk's sample generated median revenue growth, excluding unrealized gains, of 48% in 2021.
Median revenue growth at...................... To view our full article Click here
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