A rising tide of earnings growth and robust investor inflows are a welcome change for many US asset managers, although it is seen as providing a temporary reprieve from strategic challenges.
For the first time in four years, listed US managers are forecast to increase their earnings over a full calendar year. A surge in stock market valuations has buoyed assets under management across the industry. BlackRock, for example, reported a record $9tn in AUM at the end of March, a rise of 39 per cent from $6.45bn over the preceding 12 months.
Share prices have zoomed and run well ahead of the broad market during 2021 for the sector, led by Invesco, Ameriprise Financial and Franklin Resources.
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