Fund managers increased the value of their assets by 13% to $53.4 trillion (€36 trillion) last year, although their average profit margin was unchanged on the previous year, according to Boston Consulting Group.

The average operating profit margin of asset managers in a Boston Consulting survey published today was 42% last year, compared to 42.2% in 2005. However, results varied widely. The most profitable manager was a retail fund manager with a margin of 70% and the least profitable had a margin of about 20% and was a pure institutional manager.