10.22.23

Money Managers With $100 Trillion Confront End of the Bull Market

by: Silla Brush; Loukia Gyftopoulou

Across the $100 trillion asset-management industry, money managers are confronting the potential end of an unprecedented run of bull markets that buoyed their investments while making vulnerabilities. About 90% of additional revenue taken in by money managers since 2006 is simply from rising markets, and not from any ability to attract new client money, according to Boston Consulting Group. Experts now warn that many may not survive what comes next. “It’s a final act in that many firms that have coasted for decades will no longer be able to coast,” said Ben Phillips, head of the asset management global advisory business at Broadridge Financial Solutions Inc. “These firms have to change, and they have to pull it off.”

Read the full article on Bloomberg