28.06.2012 - Managers will lose AUM to sovereign wealth funds - Fund Forum
Sovereign wealth funds will play a key role in the "disappearance of hundreds of billions of dollars" from the private sector asset management industry over the coming decade, as some of the world's largest investors become investment managers by buying into the sector, says KPMG. The business consultancy's Nicholas Griffin says: ""I fully expect in the next year a SWF will buy a global asset manager, and hundreds of billions [of dollars of AuM] will disappear from the market over the next 10 years, because SWFs will become asset managers, and this is something asset managers will have to respond to."..............................................Full Article: Source
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