Asset Management's New Battleground: Distribution and AI
Event summary
- Global assets under management (AuM) reached $147 trillion in 2025, with 80% of revenue growth driven by market performance.
- Top 10 US passive fund providers captured over 90% of net inflows in the past decade.
- BCG estimates AI could reduce asset management costs by 25% to 35% over the next 3-5 years.
- Tokenized real-world assets projected to reach $14 trillion by 2030 and $55 trillion by 2035.
The big picture
The asset management industry is shifting from performance-driven growth to a model where distribution, technology, and scale determine success. As market-driven growth weakens, firms must adapt to a more competitive environment where AI and tokenization are reshaping cost structures and competitive dynamics. The concentration of growth among a few large players highlights the increasing importance of strategic partnerships and technological investment.
What we're watching
- Distribution Wars
- How asset managers embed themselves in client ecosystems will determine winners in the new competitive landscape.
- AI Adoption
- The pace at which firms transition from AI pilots to full-scale transformation will shape future efficiency and growth.
- Tokenization Impact
- Whether tokenization disrupts traditional scale and distribution advantages or creates new competitive barriers.
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