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|As the largest economy in the world with high degree of financial liberalization, abundant financial products and total financial volume, the asset management business of the United States is still in the process of continuous improvement after more than 100 years of development.
We take the asset management departments of Blackrock and Franklin Templeton, two major American banking groups, JP Morgan Chase and Bank of America, as examples to analyze the profitability model of asset management in the United States.
This provides a reference for the development of asset management business in China.
The purpose of this survey is to learn from the three core strengths of American management institutions:
centralization, strategic differences and technological intelligence.
The United States has a large number of fund companies with the largest assets in the world, including Vangaurd, BlackRock and so on.
According to statistics, from 1995 to 2012, the market share of the five largest asset management companies in the U.S. market increased from 34% to 40%, and that of the top 25 asset management companies reached 73%.
The main reason is that big fund companies have large brands, wide channels and rich product lines.
2. Strategic differences:
large fund companies mainly rely on ETF products, i.
issuing industry index funds.
Top-quality asset management institutions mainly rely on specific investment strategies, such as macro-hedging/non-performing debt/private equity investment, etC.There are also some organizations that give up the asset side and seize the flow side, which is reflected in gathering flow on the platform and providing ETF portfolio allocation.
3. Towards Intelligence:
Wealthfront and Betterment in the United States have pioneered AI financial products, that is, tailoring and designing portfolio allocation strategies for customers by optimizing programs; in recent years, large American management agencies have followed up, such as Vanguard, the giant management company, which has been vigorously promoting AI financial products in recent years.
BlackRock Group is the world's largest asset management company, headquartered in New York City, USA.BlackRock Group manages assets on behalf of individual and institutional investors around the world, providing a wide range of securities, fixed income, cash management and selective investment products.
In addition, BlackRock Group also provides risk management, investment system outsourcing and financial advisory services to a growing number of institutional investors.
Morgan Stanley is an international financial service company founded in New York, USA.It provides a wide range of financial services, including securities, asset management, business consolidation and restructuring, and credit cards.
It currently has representative offices in more than 600 cities in 27 countries and employs more than 50,000 people.
On July 19, 2018, Fortune ranked 249 on the Fortune 500 liSt.On December 18, 2018, Morgan Stanley ranked 55th in the "Top 500 World Brands 2018" compiled by the World Brand Laboratory.
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