“That subdued profit growth for the latest year could set the pace for the coming five years as global market uncertainties, such as the prospect of trade wars and geopolitical volatility, promise a more challenging environment for money managers, ” said Fumiaki Katsuki, a Tokyo-based partner with McKinsey.
PETALING JAYA: Asia’s asset management industry last year grew at a fraction of the torrid pace of previous years and this could set the pace for the next five years, a report by management consultant McKinsey & Co says.
The region achieved a 5% growth in assets under management (AUM) in 2018, which was off from the annualised 15% clip for the prior six years.
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