According to new research from global asset management strategy consultant Casey Quirk, a Deloitte business, publicly listed asset managers continued to acquire and partner with other asset managers, including private markets firms, in 2024 as they sought to defend fees and grow assets under management.
Though publicly listed asset managers surveyed saw strong revenue growth from the fourth quarter of 2023 to the fourth quarter 2024, these gains were primarily due to capital market appreciation rather than organic asset inflows, which were 0.1 percent for the median manager over the year. According to the survey of 21 independent publicly traded asset managers with $24 trillion in assets under management (AUM), asset managers experienced the following trends in 2024.
Asset managers saw median management fee revenue growth, AUM increased by 12 percent for the median firm, operating expenses increased by 7 percent and the median firm saw slight margin expansion.
T
