The State of U.S. Retail and Institutional Asset Management 2020
Uncovering Addressable Assets Across Client Channels
The Entire U.S. Asset Management Landscape, All in One Report
- Review comprehensive market sizing and major trends evolving within the retail and institutional asset management industry
- Evaluate how asset managers need to be positioning various business functions (e.g., distribution, product) to take advantage of industry disruption resulting from COVID-19
- Review how assets in retail and institutional client channels are shifting and which segments can be expected to grow more than others moving forward
- Learn how investor appetite for various investment vehicle wrappers is changing and how asset managers need to offer their strategies to different client segments
- Understand the role that intermediaries (e.g., broker/dealer home offices, consultants) have in the distribution landscape and how that role is evolving
Discounts available for bulk purchase
This report provides a comprehensive overview of the aggregate U.S. asset management landscape. It is intended for U.S. asset managers, or those seeking distribution opportunities in the United States, and provides a quantitative evaluation that sizes the current addressable U.S. asset management landscape, covering all distribution channels, client segments, and product vehicles within the retail and institutional marketplaces—with emphasis on the interaction between these two segments.
Included with Purchase
Each report is lead authored by a senior Cerulli analyst with significant industry experience. The report incorporates qualitative and quantitative inputs, based on Cerulli’s proprietary research process. For more on our research process, click here.
Get the most important report findings distilled in an easy-to-understand and highly visual format before you begin your journey through the report or use it as a tool for senior leadership.
Interactive Report Dashboard
Access consolidated data from multiple report exhibits in a single comparative view. Flexibly build your view of data with customizable filters and share the results in a format that meets your requirements.
Got a question? Our analysts are available to help you interpret and analyze key findings as well as provide their perspective on industry trends.
Data Behind the Report
Data is the foundation of our reports. Each study contains nearly 100 exhibits, available to buyers in Excel format. Extract and explore Cerulli’s data and analysis your way.
Access your reports digitally anytime, anywhere, on any device through our client portal.
A Note from the Author
How Can Managers Battle Fee Compression?
Brendan Powers, CFA
Brendan is a member of Cerulli’s Product Development practice, which focuses on trends related to asset managers’ product development and management functions. This broadly includes assessing the opportunity for product development, evaluating emerging product trends, and understanding distribution and product positioning for investment products across retail and institutional channels.
Prior to joining Cerulli, Brendan worked as a Senior Client Associate at Eaton Vance Management, focusing primarily on the firm’s exchange funds.
Full biography here.
In 2019, two-thirds of mutual fund product executives indicated they were reducing fees through expense limitations, while another 39% planned to reduce their management fees. Furthermore, managers intended to broaden the investors that are eligible for lower-cost double-zero (e.g., institutional share) and triple-zero share classes (e.g., R6 share), which don’t charge sales loads or 12b-1 fees, and in the case of triple-zero, don’t charge sub-TA fees. Finally, nearly 80% of mutual fund managers reported that they planned to prioritize development and distribution of other vehicles (e.g., ETFs, CITs) over the mutual fund to lower the cost of their strategies for certain investors.
How have these projections changed and how has COVID-19 shaped these trends in 2020? In addition to answering these questions, this report sizes the current addressable U.S. asset management landscape, and provides granular coverage from both a channel focus, such as financial advisors, defined benefit, defined contribution, insurance general accounts, foundations and endowments, subadvisory, defined contribution investment-only (DCIO), and individual retirement accounts (IRAs), as well as coverage of specific investment products and vehicles such as mutual funds, exchange-traded funds (ETFs), retail and institutional separate accounts, annuities, collective investment trusts (CITs), and hedge funds. This report is meant to be used as a business tool for asset managers to evaluate their current and potential asset-gathering opportunities.
Want more information?
Learn more about this report and related Cerulli research.
You May Also be Interested in:
- Annual report
- Cerulli Edge
- Cerulli Lodestar
Custom Research & Strategic Consulting
Cerulli for Consulting
Understand where to allocate resources to achieve your objectives. We can help you determine which initiatives are likely to be successful and those that may not achieve the desired effect. In an increasingly competitive market, our objectivity and experience can help you to advance your firm’s unique strengths.