News

Asian AuM to rocket to $30 trillion

Asia_globeIn eight years' time the asset and wealth management industry in the Asia-Pacific region will control nearly $30 trillion, according to new estimates. The prediction, from consultancy PwC, suggests the region's growth will outpace most of the globe and lead Asia-Pacific to rise from 14% of the global asset pool in 2016 to 20% by 2025. “The burgeoning wealth of high-net worth individuals and the mass affluent, as well as a pronounced shift to defined contribution retirement saving, are propelling huge growth in the industry,” said the report. Between now and 2020, global industry assets are expected to rise 7% a year, according to the report, slowing to 5.5% a year between then and 2025. The Asia-Pacific region, however, is predicted to grow much more quickly. Despite the optimistic outlook, the industry faces many challenges. These include downward pressure on fees, a potential disruption by digital technology, and regulation, such as Mifid II. ©2017 funds global asia

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