Global assets under management are on track to hit the $80tn mark this year, with China and Latin America the fastest-growing regions for investment managers.
Assets were $48.2tn on the eve of the financial crisis having grown at a compound annual rate of 12 per cent in the preceding years, according to Boston Consulting Group. The rate fell to 4 per cent between 2007 and 2016 but is now back at the pre-crisis pace.
波士顿咨询公司(Boston Consulting Group)的数据显示，在金融危机前夕，全球资产规模达到48.2万亿美元，危机之前几年的复合年增长率为12%。该增长率在2007年至2016年期间降至4%，但现在已恢复到危机前的速度。
The main drivers are record net inflows to asset managers amid a bull market for both bonds and equities but regional differences are sharp.
The market growing at the fastest rate is China, with assets increasing 22 per cent between 2016 and 2017 to $4.2tn. Chinese authorities are keen for the investment management market to become more sophisticated to reduce the country’s vast pool of unregulated wealth management products and strengthen the economy.
Seeking to tap this growth, many large foreign asset managers have taken advantage of reforms designed to help them establish a stronger foothold. Vanguard, Invesco, Marshall Wace and Axa Investment Managers are among those that have established wholly foreign-owned enterprises, a status that means they do not need a Chinese controlling partner in any venture.
Latin America is another fast-growing region, with assets up 17 per cent in the same period to $1.8tn.
为了寻求利用这一增长，许多大型外国资产管理公司利用了旨在帮助他们建立更强大立足点的改革措施。先锋(Vanguard)、景顺(Invesco)、Marshall Wace和安盛投资管理公司(Axa Investment Managers)等管理公司都在中国建立了外商独资企业，这一地位意味着他们在企业中不需要中国控股伙伴。
The US grew 13 per cent but in absolute terms it remains the largest market for investment management by some distance, with assets of $37.4tn.
It was considerably further ahead than even Europe. It had the slowest growth rate of 7 per cent and increased assets to $22.2tn. Japan and Australia were middle of the pack for growth, with combined assets increasing 10 per cent to $6.2tn between 2016 and 2017.