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Rating:Asset Managers' Revenue Falls Seven Percent, But ... Not Rated 5.0 Email Routing List Email & Route  Print Print
Tuesday, May 24, 2022

Asset Managers' Revenue Falls Seven Percent, But ...

Reported by Neil Anderson, Managing Editor

Last quarter was a painful one for fundsters' firms.

Amanda Walters
Deloitte Consulting
Principal, Casey Quirk Practice
Traditional asset managers suffered a median seven-percent revenue drop from Q4 2021 to Q1 2022, according to the latest data from the folks at Deloitte's Casey Quirk arm. AUM also slipped six percent in the quarter. And even alternative asset managers suffered a two-percent revenue drop.

Yet the Q1 2022 picture looks less dire with a bit of distance. The Casey Quirk team notes that traditional asset managers' at the end of Q1 2022 was up a median of four percent year-over-year, and their revenue was flat year-over-year.

"For the first time since Q2 2020, revenues, assets and profits are all down for asset managers," states Scott Gockowski, senior manager at Casey Quirk.

On the plus side, asset managers also saw operating expenses slip two percent in Q1 2022. And non-compensation costs fell seven percent.

Yet the Casey Quirk team notes that "flows remained tepid in Q1 2022 at just under 1% of assets from the beginning of the period." Organic growth isn't coming easy, and index funds and non-mutual fund products are in favor.

"If current performance headwinds persist, 2022 could be one of the most challenging years we've seen since the financial crisis and we could experience a reversal in asset management growth trends," states Amanda Walters, a principal at Casey Quirk. 

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