Markets to cause 1-in-6 asset managers to disappear by 2027

The audit firm's 2023 Global Asset & Wealth Management Survey - published today (10 July) - found that inflation, market volatility and rising interest rates were pushing fees down for asset managers, pushing the rate of turnover for firms to twice its historical rates. As a result, 73% of asset managers said they were considering strategic consolidation with another asset manager in the near future to gain access to new segments of the market, mitigate risk and build market share. The top ten largest asset managers are therefore expected to control half of all mutual fund assets glob...