Financial News’ CEO Snapshot Survey reveals an apparent contradiction in the asset management industry. An overwhelming number of buyside chief executives believe the sector is set for consolidation, yet hardly any are themselves actively looking to carry out acquisitions.

A total of 93% of respondents said asset management companies were heading for a period of consolidation, an increase on last year, when 88% said dealmaking was on the cards. However, while half of chief executives said they were open to acquisition ideas, just 5% were pursuing a strategy of growth by acquisition, down from 15% in 2013.