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July 12, 2013 at 07:49 AM
Global assets under management are due to exceed $70.4 trillion by the end of 2013, up more than $20 trillion since the financial crisis of 2008, according to a new report.
Cerulli Associates discloses this finding in the 12th edition of itsannual report covering global retail and retirement asset management. The 452-page study is based on information from data vendors, industry associations, global and regional surveys of asset managers, plus research meetings and industry discussions.
The report pegs household financial assets in the U.S. at $30 trillion in 2012. Global mutual fund assets under management (AUM) as a share of household financial assets represented 38.8 percent of the total—the highest of 15 developed economies surveyed by Cerulli. The breakdown by country is listed as follows:
| Country |
Household Financial Assets (U.S. $ Trillions) |
Mutual Funds as Percentage of HHFA |
| U.S. |
30 |
38.8% |
| Japan |
18.0 |
3% |
| U.K. |
7.2 |
14.3% |
| Germany |
6.4 |
9.6% |
| 6.8 |
6.2% |
|
| Italy |
4.8 |
8.4% |
| France |
5.0 |
16.0% |
| Australia |
3.4 |
17.7% |
| Canada |
3.1 |
28.6% |
| Spain |
2.2 |
7.2% |
| S. Korea |
2.3 |
12.1% |
| Taiwan |
2.2 |
6.7% |
| Switzerland |
2.2 |
17.5% |
| Sweden |
1.1 |
18.1% |
| Singapore |
0.6 |
8.9% |
By investment objective, Cerulli expects equities to total 44.4 percent of global AUM in 2017, up from 43.5 percent this year. Over the same period, bonds as a share of global AUM are anticipated to hit 27.5 percent in 2017, as compared to 25.1 percent this year.
Cerulli pegs other investment vehicles as a percentage of global AUM as follows:
Money market funds: 9.0 percent in 2017 vs. 12.6 percent in 2013
