It’s all over — the financial crisis, that is, at least according to the asset management industry.
A survey of asset managers by Cerulli Associates indicates that, post-crisis, they are optimistic about the condition of the U.S. economy, and about asset growth and revenue. And that optimism is leading them to develop new products and hire staff for sales and distribution.
The “Executive Leadership” survey, which targeted CEOs, COOs and other senior executives of asset-management companies, analyzed the responses from 33 firms that Cerulli said represent approximately 20 percent of the U.S. industry by assets under management.
Forty-four percent of responding firms had AUM between $100 billion and $499 billion; 41 percent of the firms were under $100 billion; and the balance came in at $500 billion or higher.
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“We are able to validate that firms are confident and optimistic,” said Alexi Maravel, associate director at Cerulli. “They are no longer playing defense and are now proactive in devoting resources to grow and diversify their businesses.”