The asset management industry experienced dwindling profits and increasingly divergent growth trends in 2023, according to interim results of the 26th annual McKinsey Asset Management Survey. These trends have widened the gap between the best and the rest. Following are nine observations about these and other results from the survey (exhibit).
- Industry profit is down by a third versus its recent all-time high
Market performance in the fourth quarter added a more polished finish to 2023, with assets under management (AUM) increasing by approximately 9 percent since 2022. However, that polish is only surface deep. A…
