PwC: Investment management optimism stalls for first time since 2011

Optimism among investment managers has stalled for the first time in three years, according to a survey by the Confederation of British Industry and PricewaterhouseCoopers.

The December CBI/PwC financial services survey found optimism about the overall business situation in investment management was flat. This was the first time in three years that optimism has not improved, according to the quarterly study. Total costs rose strongly, higher than previously forecast, and are predicted to do so again in the current quarter, the survey found. Business volumes failed to expand for the first time since September 2013, disappointing expectations, and volumes were flat across both domestic customers and overseas clients. Meanwhile, the value of groups' inco...