The Age of Asset Management?
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The Age of Asset Management?

Andrew G. Haldane
Bank of England, 2014
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9

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Recommendation

Although banking has been subject to intense regulatory focus recently, asset management remains largely in the shadows. Yet the growing size and influence of this sector point to new, unexpected risks to financial markets. In this speech exploring the role of asset managers, Bank of England chief economist Andrew G. Haldane sheds light on a subject that doesn’t get much attention but that could have a huge impact on world economies. getAbstract recommends this timely, sobering report to fund managers, policy makers and financial executives.

Summary

The growing asset management industry remains under most people’s radar. This is surprising, since assets under management (AUM) worldwide currently stand at about $87 trillion, roughly double their early-2000s level. Some estimates say global AUM could total $400 trillion by 2050. “Larger, older and richer” populations are driving this trend. As the role of asset managers increases, concerns about their influence on the financial system grow. Changes in the asset management landscape point to the potential for future market risk. Alternative and illiquid investments such as “hedge, private equity, real estate, infrastructure and commodity funds...

About the Author

Andrew G. Haldane is the chief economist and an executive director at the Bank of England.

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