Morgan Stanley sees global asset management growth through 2030
In short
Morgan Stanley said the global asset management industry reached a record $159 trillion in 2026 and should keep growing through 2030.
The bank says lower fees may hurt revenue, while private markets and AI could help profits. It is not clear which firms will benefit most.
What the reporting says
Morgan Stanley said global asset management assets reached a record $159 trillion in 2026 and expects the industry to expand through 2030. The report says falling management fees may restrain revenue growth, while private markets and AI could improve profitability, with firms using AI potentially lifting cost-to-income ratios by up to 15 percentage points. It is not stated which firms will benefit first or how broad the gains may be.
Why it matters
Morgan Stanley’s outlook points to a larger global asset management pool, but also thinner fees that could limit revenue growth through 2030. The reported $159 trillion asset base and the possible 15 percentage-point improvement in cost-to-income ratios from AI are the key figures. The summary does not identify specific companies or regions that will see the biggest impact.