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Stock Strategist Industry Reports

U.S. Asset Managers Still Face Difficult Future

Major policy changes won’t alter long-term trends.

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Given the change in leadership that has taken place in Washington this year, with Republicans in control of the House of Representatives, the Senate, and the White House for the first time in a decade, we expect major changes in regulatory and fiscal policy. Indeed, the prospect of easing regulation and lower corporate taxes has lifted the shares of the U.S.-based asset managers. However, we think the industry’s path forward is only marginally better, as most of the long-term trends negatively affecting the group are still in place.

We think the following issues are likely to have an impact over the next several years on the traditional U.S.-based asset managers we cover:

Greggory Warren does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.