Asset Management FY23: With Shrinking Revenues has Cost Fungibility of Technology Finally Been Addressed?

The phenomenal growth of AuM, revenue, and profitability for Asset Managers during the last decade has been reversed, driven by falls in stock market valuations across almost all asset classes impacting both management and performance fees. Many asset managers face a reckoning as falling markets force them to cut costs and make tough decisions about where to invest for growth.