Asset & Fund Management
The institutional asset and fund management market has become highly competitive. Ever growing regulatory scrutiny, the convergence of traditional and alternative asset managers, increasing fee pressure and further growing power of distributors are challenging the operating models and offerings of asset managers. The resulting trend to large ETF and index fund platforms, however, also creates opportunities for players that can – sustainably – outperform the market. We currently see the following main M&A trends:
- The Swiss asset management market is dominated by larger banks.
- Insurance companies build up their third party asset management businesses in order to diversify their revenue streams.
- A large number of smaller niche-players with focused specialised offerings face the challenge to offering the right product in a cyclical and changing market environment.
- International fund houses and asset managers see Switzerland as an important sales hub and therefore invest into their teams on the ground.
- Still, M&A activity in that sub-industry has been limited with occasional competence-driven bolt-on acquisitions abroad and selected deals within Switzerland.