Read our executive summary for a fast overview of asset manager sentiment.
The survey found that asset managers are relatively more conservative in their growth expectations for AUM than in other recent surveys and that they expect the average fee margin to continue its downward path between now and 2025, with a drop of 11%.
Against that backdrop, the industry expects to keep costs under control but anticipates that the cost:income ratio will nonetheless rise 3% by 2025. There may be some modest but welcome relief from a balance of risks skewed mildly to the upside.
As AUM growth outpaces costs and fee margin continues to fall, the survey identified that a significant ‘Fee Gap’ will open up by 2025.
