Frankfurt Asset managers have never had it so good. The experts from McKinsey estimate the profit for the German industry representatives at 4.4 billion euros last year. “A record year with an enormous increase in profits of one billion euros,” says Philipp Koch, co-head of asset management at the consulting firm.
But the bonanza seems to be over: the current year is looking much less rosy, emphasizes Koch. Above all, the falling prices on the stock and bond markets and the associated decline in income would contribute to this.
Therefore, the managed capital of 4.5 trillion euros at the end of last year is likely to shrink. “Then five to ten percent less profit are conceivable,” believes Koch. An amount below four billion euros would not be a surprise.
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