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普华永道:2025年资产与财富管理革命:盈利悖论:价值与利润的艰难权衡研究报告(英文版)(20页).pdf

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1、The profitability paradox:Competing for relevance and returnsAsset and Wealth Management Revolution 2025November 24,2025 Introduction 03 01 Fast-forward to 2030 0702 Decide where you win 1403 Choosingyourpathtoprofitability17Aboutthesurvey17Methodology18 Table of contents3PwCThe asset and wealth man

2、agement(AWM)industry faces a stark paradox.Global assets under management(AUM)are expected to rise from US$139 trillion today to$200 trillion by 2030,with as much as$230 billion of new revenue available to capture in the next five years.By any conventional measure,this should be a period of prosperi

3、ty for asset and wealth managers that have the right strategy and capabilities.But scale and asset growth no longer automatically translate into profitability.Margins are being eroded.Profit as a share of AUM has already fallen roughly 19%since 2018,and its set to decrease by another 9%by 2030.Sourc

4、es:PwC Global AWM&ESG Research Centre,LSEG Lipper,Preqin2018201920202021202220232024203002004006008001,000Global AWM revenues(US$bn)054321Profit/AUM(US$m per US$1bn of AUM)1.461.441.521.681.391.151.181.07460.2520.5544.4584.2521.8551.6611.3842.7842.7Global AWM revenuesProfit/AUMForecastThe AWM indust

5、ry is earning less for every dollar managedIntroduction4PwCAsset and wealth management revolution 2025PwCs2025AWMRevolutionresearchdrawsonmarketprojections;surveysofmanagers,investors,anddistributors;andtheanalysisoffinancialdatafromaselectedgroupofglobalassetmanagers.Itshowsthatstructural,rathertha

6、ncyclical,profitabilitypressureispervasive.89%ofassetmanagersreportprofitabilitypressureoverthepastfiveyears;almosthalfdescribeitashigh,andmorethanoneinfivecharacteriseitasveryhigh.Toaggravatematters,confidenceintheabilitytocountertheseforcesisstrikinglylow.Inanindustryaccustomedtohavinggrowthsmooth

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根据《资产和财富管理革命2025》报告,以下是全文关键点: 1. 资产和财富管理行业面临盈利悖论:尽管管理资产规模预计到2030年将增长至200万亿美元,但利润率却在下降。利润/AUM自2018年以来已下降约19%,预计到2030年将再下降9%。 2. 成本压力是盈利下降的主要原因。行业成本/收入比率为68%,远高于许多银行。 3. 价值池正在转移。被动AUM预计到2030年将以约10%的复合年增长率增长至70万亿美元。 4. 投资者对个性化、即时性和访问性的期望越来越高。 5. 人工智能、自动化和代币化等技术正在推动行业变革。 6. 私募市场、代币化和零售前沿将成为行业增长的主要动力。 7. 人才短缺是行业面临的挑战之一。 8. 资产管理公司需要做出战略选择,以确定其竞争方式和创造价值的地方。
盈利困境如何破局?" "AI赋能,财富管理未来十年将如何变革?" 如何抓住下一个增长点?"
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