Assets under management globally reached record levels last year, with profits nearing all-time highs, according to a report from the Boston Consulting Group, but that's no reason for asset managers to relax.
Global AUM last year rose for the second consecutive year, reaching a record $68.7 trillion at the end of 2013, a 13 percent bump, the firm noted in its report.
Profits came to $93 billion, delivering a 39-percent operating margin, 2 percentage points better than 2012. Pre-crisis, margins were at 41 percent — not so very much higher.
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