Global Retirement Assets See Growth in 2009

Global retirement assets stood at $24 trillion in 2009, up from $21.4 trillion the year before, according to Cerulli’s Quantitative Update: Global Markets 2010.

Cerulli projects retirement assets will grow at a compound annual growth rate (CAGR) of 7.2% between 2009 and 2014 to $34.3 trillion.  

According to a press release, Cerulli’s data showed global assets under management rose 12.3% in 2009 to $49 trillion as fiscal and monetary stimulus triggered a stock market surge, but Europe’s sovereign debt crisis is clouding the outlook for money managers in 2010. The rise in assets followed an 18.6% (or $10 trillion) slide in 2008.   

Global assets under management remain short of 2007’s peak of $53.6 trillion but are projected to exceed it by the end of 2011, reaching $56.5 trillion. Cerulli projects global assets under management are projected to grow at a CAGR of 7.6% to $70.6 trillion by 2014, the announcement said. 

Global mutual fund assets grew 16.3% in 2009 to $21.3 trillion, but Cerulli noted market appreciation mostly accounted for the rise, with net inflows contributing just 1.1% to the $3 trillion increase. Cerulli projects that mutual fund assets will also exceed their 2007 peak by 2011, hitting $24.5 trillion, and will grow at a CAGR of 7.9% to $31.1 trillion by 2014. 

Regionally, Asia ex-Japan made the swiftest recovery from the financial crisis and is forecast to post 14.5% growth in assets under management between 2009 and 2014 to $3.8 trillion. The United States and Europe together, however, will continue to dominate the asset management industry, accounting for 78% of global assets, Cerulli said.  

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