Strong market appreciation contributed significantly to publicly traded asset managers in North America and Europe seeing continued record growth in revenue and assets under management in the second quarter, according to data compiled by Casey Quirk, a business of Deloitte Consulting.
Casey Quirk's analysis of 27 listed money managers with a combined $32 trillion in AUM as of June 30, reveals that combined revenue increased 34.2% in the quarter from the year-earlier period, while AUM increased 5.5% in the second quarter from the second quarter of 2020.
Total profit among money managers reached a record high of $14.9 billion in quarter, up 93.5% from the same period a year ago.
"Publicly traded managers are a solid proxy for a larger asset management industry that's in growth mode," said Amanda Walters, a principal at Casey Quirk, in a news release. "Continued positive market momentum should result in greater reinvestment and more focus on expanding and accelerating strategic initiatives."
Scott Gockowski, senior manager at Casey Quirk, added in the same news release: "Continued favorable capital markets, strong financial results and business confidence support our belief that 2021 will be the busiest year for asset management mergers and acquisitions transactions since 2009."
