2025 Estimates Lamb Quantitative Research (LQR) estimates that assets under management (AuM) of global asset managers ended 2025 at USD 155 trillion - a new high water mark - with USD 12.3 trillion dollars added in 2025, a rise of 8.6%. Consequently, the average asset manager may be able to report some profit growth for 2025. Profitability has been challenging over the last decade. Persistent and predictable AuM margin decline (3.9% p.a.) and rising costs (at 3.4% p.a.) have

Lamb Quantitative Research (LQR) analyzed the performance between alternative and traditional asset managers over the period 2014-2024...

There's a lot of noise around the growth of alternatives for asset managers. Are they taking over the world, or have they collapsed...

A loose collection of academic papers relevant to the investment asset management industry. The focus is on valuation, performance, and industrial organization of investment asset managers; we exclude almost all of the the vast literature pertaining to portfolio management. Please let us know in the comments what we should add. (Apologies for the lack of citation standard). Industry Introduction Bernard Delbecque (2012): “Key functions of asset management,” VOXEU, March....

Our analysis shows that most M&A deals result in significant underperformance of the buyer. In asset management, scale certainly doesn’t predict higher margins or better client outcomes for multiple structural reasons.

2024 Estimates Lamb Quantitative Research (LQR) estimates that assets under management (AuM) of global asset managers ended 2024 at USD...