(Opalesque) North American assets under management (AUM) totaled $43 trillion in 2018, a 7% increase from the previous year, but overall industry profits (excluding alternative investments) fell 3.7% from the year before to $42.6 billion, according to the report. According to the latest report from McKinsey & Co, net flows for the year were anemic, and the drop in both equity and bond markets late in the year made for a weak fourth quarter and a challenging start to 2019.
North American assets under management totals $43tn, up 7%
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