Global Asset Management: Conquering the Crisis

Global Asset Management: Conquering the Crisis

          
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Global Asset Management 2009: Conquering the Crisis

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    Conquering the Crisis: Global Asset Management 2009 is The Boston Consulting Group’s seventh annual study of the worldwide asset-management industry. As in our previous reports, this edition contains a comprehensive market-sizing effort. We covered 32 major markets (representing more than 95 percent of the global asset-management market) and focused exclusively on assets that are professionally managed in exchange for a fee. We also conducted a detailed analysis of the forces that are shaping the fortunes of asset management institutions across the globe.

    Moreover, this report contains conclusions drawn from a detailed benchmarking exercise of leading industry competitors that BCG conducted early in 2009. Our goal was to collect data on fees, products, distribution channels, and costs in order to draw insights into the current state of the industry and its underlying drivers of profitability.

    In our 2008 report, Winning Strategies in Uncertain Times, we concentrated on the events surrounding the global financial crisis that first began to unfold in the summer of 2007. Today, despite some positive market trends that have developed since the beginning of 2009, the crisis is far from over. We therefore devote considerable space in this report both to the consequences of the crisis up to the present time and to the dilemmas that asset managers currently face in their efforts not only to survive the ongoing turmoil but also to emerge from it in a strong competitive position. The winners will be those that most astutely adapt to the evolution of investor behavior and leverage new opportunities—such as acquisitions—that will arise as the industry reshapes itself. Reducing costs even further and adapting core business and operating models will also be key factors for success.

    We hope that this report will engage readers and raise provocative questions. We also hope that it will encourage asset managers to review the strength and integrity of all aspects of their businesses and prompt them to take the actions necessary to ensure not only the viability but also the prosperity of their institutions in the future.

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