Within the asset management industry, the recent rise in pure passive investing, based on traditional cap-weighted indices, is set to slow down in the near-future as more investors seek to diversify their portfolios while earning cheap alpha returns at near-beta fees.
Despite recent signs that global equities market volatility is showing signs of life once again after a period of prolonged slumber, investment bank execution franchises should remain mindful of the long-term imperative to continue to reduce costs at the margins across the whole of the brokerage business.
