Money managers’ AUM rose to $62.4 trillion in 2012, according to a study by the Boston Consulting Group. That figure, which surpasses the previous record (set in 2007, before the Great Recession), was driven primarily by market growth of global equities and fixed income. Profits also rose to 37% of revenue but still lagged pre-recession margins by 15%, with European managers 31% below 2007 results and U.S. managers 10% higher.
One out of four managers experienced significant outflow, primarily from actively managed domestic core funds. Strategies that saw inflows included solution-based investments like LDIs and TDFs, as well as passive funds. Domestic large cap and fixed income, meanwhile, are losing traction.
The survey was based on 120 money managers representing $33 trillion of 53% of global AUM.
