A $9.6 Trillion Opportunity — If Asset Managers Can Survive What Comes First

London, United Kingdom, 6 May 2026 — EXANTE, the global prime broker, today published its Asset Management Outlook: Moving Beyond Volatility, a comprehensive assessment of the risks and opportunities facing asset managers as the industry moves towards a projected $9.6 trillion in global assets under management by 2035.

Authored by Renée Friedman, PhD, Global Head of Research at EXANTE, the report draws on findings from leading industry research firms, international regulators, and global consultancies, synthesising a clear picture of the structural forces that will define winners and losers in the decade ahead.

The report's central argument is stark: the path to that $9.6 trillion opportunity runs directly through severe macroeconomic disruption, escalating cyber threats, intensifying regulatory fragmentation, and accelerating industry consolidation. The US-Israeli-led war with Iran, which has disrupted transit through the Strait of Hormuz and triggered the largest oil-supply shock in the history of the global oil market, is cited as a defining example of the geopolitical volatility asset managers must now treat as a permanent operating condition.

Key findings include:

• Private markets will generate over half of the industry's total revenue by 2030, producing significantly higher profit per $1 billion in assets than traditional managers, accelerating capability-led M&A and intensifying pressure on mid-sized firms.
• AI is now a strategic imperative, not an experiment, and is already transforming front-office functions from market research to client risk profiling, and back-office compliance including fraud detection. Yet 45% of managers expect AI to create new revenue streams, while productivity gains remain 'trapped' in legacy processes.
• Tokenised real-world assets are projected to exceed $100 billion in 2026, driven by regulatory clarity in the US and the introduction of blockchain-based settlement systems, creating new product design opportunities alongside significant compliance requirements.
• AI is a dual-edged sword on cybersecurity: while enhancing defence capabilities, it simultaneously amplifies the sophistication of cyberattacks and creates systemic, correlated risk across the financial sector.
• ESG demand remains structurally intact despite US political headwinds, with Asia-Pacific set to outpace other regions in ESG AUM growth and 64% of APAC managers planning new sustainable product launches this year.

“The growth potential for asset management over the next decade is extraordinary. But realising it demands that firms move beyond short-term market cycles and treat operational resilience, technology transformation, and strategic specialisation not as priorities for tomorrow but as conditions for survival today” commented Renée Friedman, PhD, Global Head of Research, EXANTE

The full report is available to download here. Dr Friedman is available for media interview.

About Dr Renée Friedman, PhD

Dr Renée Friedman is Global Head of Research at EXANTE, specialising in macroeconomic trends, geopolitical risk, and the intersection of technology and financial markets. She is available for interview across all formats.

About EXANTE

EXANTE is a leading global prime broker offering access to 50+ markets, eight asset classes and more than two million instruments from a single multi-currency account. Its proprietary platform combines advanced trading tools, analytics, and a resilient infrastructure to support institutions, professional investors, high-net worth clients and partners worldwide.

Media Contact: Julia Chapman jch@exante.eu

Disclaimer and Risk Warning: The information contained herein is provided for informational purposes only and should not be regarded as an offer or solicitation of an offer to buy or sell any investments or related services that may be referenced here. Investing involves a high level of risk. Past performance is not a reliable indicator of future results