Change is on the
way, we know it, everything in life and business changes all
the time. So why should the Fund Management Industry be any
Given how the industry evolved from a comparatively tiny base over the past 50 years nobody should be surprised that more changes are coming over the next 50 years (if civilisation lasts that long given that reckless gamblers seem to have their finger on the nuclear buttons).
But who knows
where the journey will lead us? All one can really do is
hire and employ smart people, stay lean in terms or cost and
avoid being panicked into poor decisions.
Most people need help with their finances, passive investing will not wipe out good active management and bringing billions of people into a situation where they can afford to save will offer more than enough opportunities for the foreseeable future.