The turbocharged asset management evolution: How to bring the industry into the modern world

Covid-19 exposes antiquated systems and practices

The asset management industry – similar to most other parts of the economy – was severely impacted during the onset of the Covid-19 pandemic.

News of the escalating severity of the global outbreak sent shockwaves through financial markets, as evidenced by the benchmark S&P 500 losing more than a third of its value during the latter part of the first quarter. However, while the sharp market decline and investor outflows undoubtedly had a major impact on Q1 revenues for asset managers, unlike the continued tribulations for numerous elements of the economy, many asset management groups have witnessed a 'V-shaped' recovery in recent months. Equities have roared back - particularly driven by the strong performance of the US-base...