Due to weaker economic activity and interest rates locked at ultra-low levels, challenges loom for the global asset management industry. Consultancy McKinsey & Company forecasts slower growth in assets, cash inflows and profits over the next five years, reports the Financial Times.
In this situation, US and European asset managers are likely to face more severe pressures on profits as the Asia-Pacific region has become the most important source of cash inflows for the industry, McKinsey argues.
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