Global asset management industry 'faces a reckoning' - report

The study, Survival of the Fittest: Defining Future Leaders in Asset Management, warns annual revenue growth will fall to 2.9% from 6%, median profit margin will drop to 28% from 34% and the industry's annual organic growth will slow to less than 1% by 2021. It lists "costs" and "consumers" as the two primary factors forcing the worldwide asset management industry to "face a reckoning". This is on the back of expected fixed cost increases outpacing likely future revenue growth and the fact the sector looks like other consumer businesses with its desire for a strong consumer experience...