The gap between the top U.S. asset managers and the bottom performers is widening.
Consultants at McKinsey & Company, New York, have published that conclusion in the firm's fifth annual U.S. asset manager review.
There is now a 41% difference in operating margins between the top-third and bottom-third asset managers that McKinsey tracks, the consultants write.
The difference has grown dramatically over the past 3 years, and a growing number of U.S. assets managers now are earning margins under 20%, McKinsey consultants write.
Demand and prices for a number of established products fell by more than 10% in 2005 alone, the consultants report.
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