The signs pointing to a need for increased consolidation have been visible for everyone to see for some time. We concluded in our Nordic Fund Industry Outlook report in December 2015 that the asset management industry is maturing and that one likely outcome is increased consolidation.
In a research note published on June 10 this year headlined “Predators and Prey”, Numis, a UK based stockbroker and corporate advisors, pointed to a new wave of industry consolidation. It said: “We would agree that the industry has seen both margin pressure and slowing organic growth in recent years and we see no catalyst for either of these trends to ease in the near future. We therefore agree that consolidation will likely move higher up the corporate agenda”. Greg Johnson, the chief executive and chairman of Franklin Resources, told the Financial Times in an interview in June this yearThe full article is only available to members
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