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AI and the Next Wave of Transformation

Global Asset Management Report 2024

Dean Frankle

Boston Consulting Group, 2024

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In 2023, global asset management firms collectively were financial stewards of approximately $119 trillion in investor funds. Yet overall profitability decreased by 8.1%, raising concerns about the future health of the industry. Boston Consulting Group professionals undertake a thorough examination of the asset management sector in this detailed yearly report; they emphasize the challenges firms face and how they must adopt AI technology into their models. Investors, fund managers, and financial executives seeking an informative assessment of the future of asset management will find this an authoritative analysis.

Summary

Asset managers face a challenging environment of reduced profitability brought on by systemic forces.

Global asset managers are grappling with the challenges of a rapidly transforming industry. In 2023, they saw a significant 12% increase in the value of assets under management from 2022. While that overall turnaround is impressive, other numbers paint a different story: Firm revenues expanded only 0.2% in 2023 while expenses increased by 4.3%, and this combination proved negative for profitability, which fell by 8.1%.

With this mixed set of financial metrics, financial stewards face several drivers shaping the current and future landscape of asset management:

Sluggish revenue expansion has become far too dependent on market value growth. From 2006, market gains have accounted for 90...

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The Boston Consulting Group is a leading global consulting firm.

AI and the Next Wave of Transformation

Global Asset Management Report 2024

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Asset managers face a challenging environment of reduced profitability brought on by systemic forces.

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