The asset management industry faces dramatic consolidation over the next four years as one in six companies disappear because of a mix of market volatility, high interest rates and pressure on fees.
Sixteen per cent of existing asset and wealth managers will go out of business or be bought up by bigger groups by 2027, according to a PwC survey of 500 asset managers and institutional investors
The global survey also found that almost three-quarters of asset managers are considering acquiring or merging with a competitor as business models come under pressure in a tough market environment.
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