China's asset management industry set to overtake UK in AUM by 2019

To grow to $17trn by 2030

China's asset management industry is expected to grow to around $17trn by 2030, up from $2.8trn in 2016, but foreign firms are not expected to benefit from this expansion leaving many nations behind, according to research by consultancy firm Casey Quirk.

In the whitepaper Leadership in Times of Plenty: Future Winners in China's Asset Management Industry, it is forecast China's assets under management (AUM) could overtake the UK's $3.8trn AUM as early as 2019, according to Bloomberg. Furthermore, the report said China's share of the industry would rise to 10%, up from 4%, the same level as where the US was in 1990. China Special: Look beyond politics to understand the country In addition, asset growth would remain at around 15% a year until 2025 and then fall slightly to 12% per year between 2025 and 2030, which will result in $8.5t...