Business

Covid-19 had less impact on asset management than expected

The global asset management industry enjoyed sustained positive growth over the course of last year despite the Covid-19 pandemic, according to the latest report, by consultancy, Cerulli Associates.

 

The report titled, “Global Markets 2021: Continued Growth in Uncertain Times,” finds that assets under management (AUM) in the industry globally grew by 10.3 per cent in 2019 and 4.1 per cent last year.

 

“Covid-19 has had less of an impact on the global asset management industry than many expected at the start of the pandemic,” said André Schnurrenberger, MD, Europe at Cerulli Associates.

 

“Assuming that the coronavirus outbreak is brought under control, we expect AUM in the US to continue growing; we also expect non- US assets to keep increasing over the next five years, with a growing middle class and improved financial literacy fuelling demand in developing markets,” he noted.

 

Cerulli also predicted that AUM would grow 5.8% over 2021. The firm found three key dynamics supporting this sustained improvement.

 

These all offer opportunities for asset managers. “The pandemic forced many individuals to save and invest more. More individuals, especially younger people, have shown interest in investing over the past year.

 

Asset managers have an opportunity to capitalise on this growing interest by offering attractive products while simultaneously educating people on the benefits of long-term investing.

 

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