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Finance
Asset Management
December 2025

The asset management industry rebounded in 2024–25, with global assets under management (AUM) reaching a record $147 trillion by mid‑2025. However, profitability lagged as rising costs and operating complexity kept margins under pressure. Traditional high‑fee equity mutual funds faced eroding yields, while private markets struggled with indigestion. Despite these challenges, firms with strong distribution access, scaled alternative platforms, and holistic portfolio solutions captured outsized flows.

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