波士顿咨询（BCG）：2025年全球资产管理报告：从复苏到重塑（第23版）（英文版）（26页）.pdf

1、FINANCIAL INSTITUTIONSGLOBAL ASSET MANAGEMENT REPORT 202523RD EDITIONFrom Recovery to Reinvention April 2025 By Dean Frankle,Renaud Fages,Johannes Burkhardt,Peter Czerepak,Mayank Jha,Bingbing Liu,Michele Millosevich,Kedra Newsom Reeves,Chris Ng,Edoardo Palmisani,Neil Pardasani,George Rudolph,Brian T

2、eixeira,Martina Trepat,Andrea Walbaum,Mateo Wiesner,and Ivana Zupa03 Recognizing Growth and What Lies Beneath08 Rethinking Products and Distribution12 Staying Relevant in a Consolidating Market16 Becoming Radically Leaner21 Appendix24 About the AuthorsContentsBOSTON CONSULTING GROUPFROM RECOVERY TO

3、REINVENTION 3The global asset management industry reached a record$128 trillion in assets under management(AuM)in 2024,up 12%from the previous year.The gains marked a strong continuing rebound from the decline that occurred in 2022.Nevertheless,that growth cant mask the deeper structural challenges

4、that the industry faces,including margin pressures,shifting investor preferences,and intensifying competition.Notably,market performance drove 70%of revenue growth in 2024,underscoring the industrys vulnerability to external conditionsespecially in a period marked by extreme market volatility,rapid

5、shifts in sentiment,and heightened economic uncertainty arising in part from the disruptive effects of the US tariffs.To remain competitive and to navigate an increasingly uncertain future,firms must move beyond the recovery that has characterized the past two years and focus on reinventing themselv

6、es for the future.Recognizing Growth and What Lies BeneathBOSTON CONSULTING GROUPFROM RECOVERY TO REINVENTION 4Three Forces Reshaping the IndustryThree forces in particular are reshaping the industry:shifts in product offerings and approaches to distribution;industry-wide consolidation;and the need