Investors around the world are aware that asset growth and the prolonged period of low interest rates that defined the decade-plus bull run are unlikely to return any time soon, according to Cerulli Associates’ latest report, Global Markets 2023: A Changing World. Product development and innovation will be vital for asset managers seeking to retain and win business in the coming years.
“The mutual fund industry demonstrated resilience last year, achieving growth despite the volatile market environment,” said André Schnurrenberger, managing director, Europe at Cerulli Associates. “We believe the best opportunities for asset managers exist in specialist areas such as responsible investment and alternatives, as well as the wealth management channel.”
In the highly competitive U.S. market, product strategy and innovation are driven by many investment products lacking diff