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Opalesque Industry Update - After a challenging previous year, the Swiss asset management industry has returned to growth in 2023. More than ever, the industry is proving to be an important pillar of the Swiss economy, characterised by its high level of international competitiveness and a broadly diversified range of products and services, as shown by the "Asset Management Study 2024 - Growth, Global Reach and Economic Impact" published by the Lucerne University of Applied Sciences and Arts and AMAS at the end of June. Asset managers in Switzerland managed a total of CHF 3,117 billion (US$3,470 bn) at the end of 2023, making it the third-largest asset management market in Europe. The Swiss asset management industry thus recorded robust growth of 8.3 per cent in 2023. The relevance of asset management is reflected in the following figures: In 2023, the industry contributed around one per cent to Switzerland's GDP. It also generated CHF 4.05 billion in profits, paid CHF 0.59 billion in taxes and supported around 58,700 full-time jobs. In 2023, around 30 per cent of assets under management were managed for foreign institutional clients. Over the seven-year period from 2017 to 2023, the export share increased by 4.8 percentage points. This high export share illustrates the international demand for Swiss asset management and underlines the importance of domestic expertise. This year's study also presents the industry and its development using a wealth of detailed graphics and charts that provide an in-depth and analytical insight into the activities of the industry and its exponents. The data for the study comes directly from AMAS members. Swiss Asset Management Study 2024: Article source - Opalesque is not responsible for the content of external internet sites |
Industry Updates
Switzerland third largest asset management market in Europe
Tuesday, July 09, 2024
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