Growth Of The Asset Management Industry

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In the present epoch’s market-driven yet economically fragile world corporations and companies of all extents and hues have multifaceted stakes to take care of while focusing on their core objectives. Billions are spent by them every year to acquire, sustain, maintain, operate and later decommission assets not only physical but also non-physical assets. So asset management remains at the core of the mission of many corporations whose top management keeps its focus on the acquisition of profitable assets and for the optimally safe yet promising use of investments. The asset management industry has seen a boom also due to the increasingly unpredictable economic conditions of the world so in order to remain ahead of, or at least at par with their competitors, all businesses or corporations need to ensure maximum possible returns on their assets. It is projected that by 2020 the asset management industry would have $100 trillion global investable funds and would register an annual growth rate of as high as 6% (PwC, 2014). This positive projection of growth of the asset management industry is due also to the inroads of technology in the domain of asset management industry as to many other new factors or game changers such as transformation of fee models, growing preeminence of asset management functions, changing shares of the regional and global asset management firms, and an ever-growing demand for cost-effective services. Ever since technology started spreading its tentacles

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