In this issue of Asset Management (AM) News we look at how investors' view of value has changed. Performance is still essential but investors are now looking for a competitive fee, strong infrastructure and increased transparency. In this issue, we highlight areas where asset managers can respond to these raised expectations.
In this edition of AM News we build on the themes that emerged from our recent Global CEO Survey and discuss some of the strategic decisions asset managers need to consider as the industry enters a new growth cycle.
As the consequences of the credit crisis become clearer, this is a time of exceptional change for asset managers and real estate companies alike. Shifting economics, onerous new regulation and a drive for greater transparency in reporting are creating challenges – yet also some opportunities.
Just two years after the credit crisis struck comes the regulatory aftershock. In the US, Europe and Asia, the shape of new regulations is becoming clear. Governments are subjecting asset managers to far tougher rules and more intrusive supervision. The asset management sector has never had to adapt to so much regulatory legislation in such a short time.
For asset managers, the legacy of the financial crisis that struck in 2008 and rumbles on in 2010 is now clear. Gone is much of the freedom they have historically enjoyed. Their investment activities, operating models and tax arrangements will be far more closely controlled and scrutinised in future.
Just like the broader economy that it serves, the asset management industry is returning to growth. Yet this growth is far from uniform – there are pockets of flourishing activity and areas of continuing weakness.