The world is increasingly full of acronyms and there is argument for worrying about each and every one of them but the real impact on Asset Managers is, we believe, simply more of the same: revenue margins erode over time, costs move higher and the only real defence is to deliver for fund investors. But we should not lose sight of the role that asset management, active and passive, can play in addressing the obvious financial needs of ageing populations. All is not lost, whatever the siren voice ....
