Asset managers in the US have returned to pre-crisis levels of profitability after pulling in a record $683bn of new money from investors last year, according to a wide-ranging report from McKinsey.
The 34-page study, published on November 15 by the US consultancy, shows North America-domiciled investors added almost $700bn of new money to their pool of assets in 2017, ratcheting up revenues for US asset managers to $188bn.
