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Alternative Market Briefing

Asset managers suffer a median 7% revenue drop from Q4 2021 to Q1 2022

Wednesday, May 25, 2022

Laxman Pai, Opalesque Asia:

Traditional asset managers in North America saw a decline in assets under management, revenue, and non-compensation fees in the first quarter of 2022, said a study.

The publicly traded asset managers suffered a median seven-percent revenue drop from Q4 2021 to Q1 2022, according to the latest data from Deloitte's Casey Quirk arm. AUM also slipped six percent in the quarter.

Casey Quirk attributes the bulk of the decline to the state of capital markets and "tepid flows, with margins coming under pressure for the first time in seven quarters."

However, overall assets at these firms were still up 4% and revenues were flat when compared with the end of the first quarter of 2021, the report noted.

Meanwhile, management fee revenue for the seven listed alternative asset managers tracked by Casey Quirk declined by 2%. "For the first time since Q2 2020, revenues, assets, and profits are all down for asset managers," said Scott Gockowski, senior manager at Casey Quirk. "However, it's important to note that the headwinds in Q1 are in stark contrast to the fourth quarter of 2021, where many of the measures we track related to these businesses were at historic highs."

According to the report, operating expenses for the median traditional manager contracted -2% from their high watermark in the fourth quarter of 2021. Q4 2021 was also a record quarter for compensation, but Casey Quirk expects 2022 to be m......................

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