Covid-19 Expected to Shrink Asset Management Industry by Almost $2 Trillion

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Markets may have bounced back quickly from March’s Covid-19 crash, but the asset management industry will not escape 2020 unscathed.

Global industry assets under management are expected to decline by $1.7 trillion this year, according to Cerulli Associates. The Boston-based research firm projected that industry assets would fall to $102.7 trillion from $104.4 trillion in 2019 — ending more than a decade of growth for money managers.

According to Justina Deveikyte, associate director of Cerulli’s European institutional practice, this global decline will be primarily driven by shrinking assets under management in the U.S. and Europe.

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