asset management 2025 - assets.contentstack.io€¦ · asset management 2025 23 may 2019 waheed...
TRANSCRIPT
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Financial Markets Legal
Update Amsterdam
Asset Management 2025
23 May 2019
Waheed Aslam – Senior Lead, Asset Management & Investment Funds
Andy Hartwill – Client Insights
The Future of the Asset Management Industry
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Setting the scene
Demographics
The results
What next
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3
Market context
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4
World is Saving Less – Again!
22.0
22.5
23.0
23.5
24.0
24.5
25.0
25.5
26.0
26.5
27.0
1975 1980 1985 1990 1995 2000 2005 2010 2015 2020
World Savings as % of GDP
Source: The World Bank
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5
Who Are The Respondents? Seniority
8%
16%
24%
27%
24%
0%
5%
10%
15%
20%
25%
30%
Owner C-Suite Other SeniorManagement
Middle Management Professional
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Who Are The Respondents? Job Function
41%
9%7%
0%
10%
20%
30%
40%
50%
PortfolioMgt
Research GeneralM'gt
Legal Compliance Finance Sales/Mktg Dealing/Ex'n
Human Res I.T.
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Who Are The Respondents? Location
54%
28%
14%
0%
10%
20%
30%
40%
50%
60%
Europe Americas APAC MENA SSA
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Who Are The Respondents? : AUM ($)
14%
18%17%
0%
5%
10%
15%
20%
Below $250million
$250 - 499million
$500 - 999million
$1 - 5 billion $6 - 10billion
$11 - 50billion
$51 - 100billion
$101 - 400billion
Over $400billion
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Who Are The Respondents? Organisation Type
45%
22%
17%
0%
10%
20%
30%
40%
50%
InstitutionalFund
Manager, e.g.,Mutual Funds,
Unit Trusts
AlternativeInvestment
Fund Manager
PrivateBank/WealthManagementfirm/Family
office
Investment or Retail Bank –Investment
Division
Pensionprovider
Insurance provider –Investment
Division
DevelopmentFinance
Institution
SovereignWealth Fund
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The S&S BBG
Asset Management Indicator (AMI)
and Its Components
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S&S BBG Indicator Components: Growth to 2025
0.90
0.95
1.00
1.05
1.10
1.15
1.20
1.25
Now 2020 2025
AUM
Fees
Costs
Risk
The Fee Gap
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AMI Drivers - Shorter Term (2020): AUM
26.9%
14.4%12.7%
-12.9% -12.4% -12.9%-14.4%
-20%
-10%
0%
10%
20%
30%
POSitive NEGative
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28.6%
13.9%
10.0%
-21.2%-18.9%
-24.5%-25.0%
-20.0%
-15.0%
-10.0%
-5.0%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
POSitive NEGative
AMI Drivers - Shorter Term (2020): Fees
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AMI Drivers - Shorter Term (2020): Costs
19.4%17.7%
11.2%
-15.3%
-12.9%
-19.4%-20.0%
-10.0%
0.0%
10.0%
20.0%
Material Increases Material Cuts
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AMI Drivers - Shorter Term (2020): Balance of Risks
18.3%
10.5% 10.5%
-9.3%
-21.1%
-25.0%
-20.0%
-15.0%
-10.0%
-5.0%
0.0%
5.0%
10.0%
15.0%
20.0%
UPside DOWNside
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Diversification Strategies to 2020
(Maximise ReturnMinimise Risk)
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Diversification by Asset Class (2020)
Simmons & Simmons Bloomberg
13%
20%
8%
-19%-20%
-10%
0%
10%
20%
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Diversification by Asset Types (2020)(Alternative Fund Managers/ Organisations)
Simmons & Simmons Bloomberg
15%
10%
-12%-11%
-12%
-20%
-10%
0%
10%
20%
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Diversification by Geography (2020) – ALL RESPONDENTS
Simmons & Simmons Bloomberg
10% 10%
13%
17%
-12%
-16%
-6%
-16%
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%
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Diversification by Investment Style (2020)
Simmons & Simmons Bloomberg
19%
13% 14%
9%
-6%
-20%
-12%
-23%-25%
-15%
-5%
5%
15%
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Diversification by Corporate Action (2020) – ALL RESPONDENTS
Simmons & Simmons Bloomberg
26%
18%
15%
13%12%
12%
3%
0%
5%
10%
15%
20%
25%
30%
New technology Acquisition Culture change Outsourcing Be acquired Merger/ JV Disposal
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Investors in EuropeBrexit & Regulatory Impact
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Investors in Europe: Brexit Impact 2025
3%
6%
59%
28%
4%
0%
10%
20%
30%
40%
50%
60%
Very POS POS Moderate NEG Very NEG
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Investors in Europe: Risks from EU Competition Law
2%
10%
43%
30%
15%
0%
10%
20%
30%
40%
50%
Very High High Moderate Low Very Low
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Investors in Europe: Regulatory Intervention (Q45)
-25%
-1%
5%
34%
5%
-17%
-30%
-20%
-10%
0%
10%
20%
30%
40%
Fee levels Type of fund:active/passive
Benchmarks Transparency Fund structures Tax
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Main People Issues (for C-Suite ++)
27%
21%
17%
8%
6%5% 4% 4% 4%
3%1%
0%0%
5%
10%
15%
20%
25%
30%
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Asset Management 2025
Contact your usual Bloomberg rep or email me on
Simmons & Simmons Bloomberg
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