London – Tuesday, 7 August 2012
A new report published online today urges asset managers to regain investor confidence by facing up to the moral challenges posed by recent global events. Based on a ‘swift survey’ of asset managers, “Success of the Fittest: A Swift Survey of Shifts in Asset Management”, assesses the fitness of the asset management sector in the present financial climate. It looks at five key areas impacting the current and future state of the asset management sector, including the macro-economic and industry environments, and the ‘moral issues’ confronting those who work in it.
In order to tackle the moral issues, the report suggests, for example, considering whether the asset management sector should be an independent one that cannot cross-sell within a financial services or banking group. It also recommends that measurements, including assets under management, fund performance and asset allocation should be published in a way that can be understood and measured uniformly by all stakeholders.
The report has been written at a time of uncertain outlook for the global economy and the financial sector as a whole. Predictions for the industry over the next two to five years include the need for a new focus on operational excellence and business resilience against the backdrop of a fragmented Euro-zone; and that asset managers that remain part of large banks will see their growth slowed because of the bank brand association.
Bob McDowall, the report’s author, said: “The world of asset management is changing subtly in response to the continuing absence of consumer and investor trust and confidence in the financial services industry. This report not only examines the challenges of uncertainty in the context of the current financial & economic outlook, but evaluates how asset management, like all segments of the financial services industry, can embrace a new sense of morality to re-engender consumer and investor trust and confidence.”
Notes to Editors
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