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The fund-management industry looks poised for further consolidation
Print Headline:
The big squeeze
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Buttonwood
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The policy designed to make America great again
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MAKING money yourself from investing other people’s has been a good business for over a century. Asset managers established a key principle early on: they could charge an ad valorem fee on the amount they oversee. So when markets go up, their fees go up.
But as the title of a recent London Business School conference indicated, investment management is “an industry in disruption”. Abhijit Rawal of PwC, a consultancy, described the sector’s problems as the “four Rs”: returns are low; revenues are being squeezed; regulations are being tightened; and the robots are …
May 12, 2017 at 10:14AM
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