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Moody's figures reflect notable drop in revenues for EU asset managers

Despite the negative numbers, Moody's says in a statement that European asset managers showed resilience as financial markets rebounded from the sell-off in Q1.

Revenues for European asset managers fell 9 percent year-on-year during the first half of this year, as the sector’s assets under management declined 1.5 percent as a result of a slump induced by Covid-19, reports Funds Europe.

Figures from ratings agency Moody’s show that the average earnings margin of European asset managers dropped 27 percent during the first half of 2020, reflecting lower management fees during the period, while costs remained broadly unchanged.

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