2025年资产管理研究.pptxVIP

2025StrategyAssetManagementInsights

Growth,cost,andscenarioanalysisforGSA

December2025

6,143(77%)10,406(57%)

4,252(53%)5,341(87%)

2,448(8%)3,644(63%)

2,440(48%)

1,828(7%)

117

mmmi95(-57%)

n70(19%)

u53(10%)

46(70%)

um17(-86%)

6(-36%)

AssetManagershavegrown~5%annuallybetween2019and2024–USplayerscontinuetooutperformEuropeanpeers

GrowthofselectedAssetManagers1)(2019to2021to2024in€bn)

BlackRock

Vanguard

Fidelity

StateStreet

J.P.Morgan

AllianzGroup

Amundi

BNYMellon

Invesco

UBS

FranklinTempleton

NorthernTrust

T.RowePrice

Natixis

DWSGroupGmbH

Schroders

Brookfield

Axa

AllianceBernstein

HSBC

UnionInvestment

Nordea

DekaBank

LGT

Eurizon

AegonGroup

SwissLife

Robeco

EFG

Man

EaPartnersGroup

EaVontobelHolding

LaBanquePostale

AzimutGroup

Jupiter

Provinzial

GAM

Bellevue

11,5,3()Insights

8

5

97

66

1,513144%)

1,451(32%)

1,447(34%)•Acrossourselectedsample,Asset

()41%)ManagershaverealizedAuMgrowthof

%

7

32

31

1,012

1

ma916(61%)