Asset Management 2020 A Brave New World（资产管理2020 一个勇敢的新世界）.pdf

Amid unprecedented economic turmoil and regulatory change, most asset managers have afforded themselves little time to bring the future into focus. But the industry stands on the precipice of a number of fundamental shifts that will shape the future of the asset management industry. To help asset managers plan for the future, we have considered the likely changes in the asset management industry landscape over the coming years and identified key gamechangers which will impact the competitive environment. Asset Management 2020 A Brave New World /assetmanagement Contents Introduction 4 The landscape in 2020: 6 The industry expands, the investor base morphs 1. Huge rise in assets and shift in investor base 7 2. Pressures on the asset management industry 14 N 1 3. othing to hide,nowhere to hide and nothing at risk 6 AM 2020: 18 Gamechangers that will redefine the industry 1. Asse t management moves centrestage 19 2. Distribution is redrawn – regional and global platforms dominate 24 3. Fee models are transformed 26 4. Alternatives become more mainstream, passives are core and ET