Managers See Asset Growth


    Investment managers have seen significantly stronger growth in assets under management and revenue, despite lingering pressure from investors to lower fees, says an Advent Users Group report. The group, an independent organization of investment professionals who use solutions from Advent Software, found survey participants reported median asset growth of 19.4 per cent in 2013 compared to a median asset growth of 9.5 per cent in 2012. The average survey participant achieved revenue growth in 2013, with median revenues rising by 14.6 per cent from the previous year. It also found approximately 16 per cent of firms surveyed plan to add new asset classes within the next year, with many planning to add alternative strategies to portfolios. Spending on technology and operations continues to rise, with firms expecting IT and operations costs to rise an average of 11.5 per cent in 2014 from a year earlier. Most firms experienced overall client turnover of between one per cent and 10 per cent. However, more than four out of five respondents reported a net increase in the number of clients serviced by their firms.