The study of 40 global asset managers including BlackRock, State Street, JPMorgan and Goldman Sachs by German financial strategy advisor zeb Consulting showed their profits in 2023 slipped to 8.2 basis points (0.082%) of assets under management from 10.1 basis points in 2021 and 9.4 points in 2022.
"The good years are over for now," zeb senior consultant Fränk Hamelius, one of the study's authors, said on Monday.
Over the past five years, the assets under management of the firms studied have risen by 8.8% annually on average, but their operating profits have only gone up by 0.7% per annum, it said.
~ Phil Grant, Almost Daily Grant's, October 21, 2024
No comments:
Post a Comment