Warning 'second wave' of asset management industry disruption to come from tech firms

Rating agency Moody's Investors Service has warned the lack of innovation and long-term underperformance in the asset management industry has left the door open for tech firms to disrupt and gain market share.

In research looking at the global asset management industry, Moody's said the sector could expect a "second wave" of disruption following the adoption of low-cost index funds, which have already compressed...