Asset managers are facing unprecedented regulatory scrutiny, the looming unknowns of Brexit, continued compression of fees and heightened pressure to demonstrate value for money. To navigate these difficult headwinds, it is critical to have clarity of vision to make committed plans for long-term resilience.

Much like the average investor, whose typical returns significantly lag the markets because they are hamstrung by their own behavioural pitfalls — selling low and buying high — most asset managers invest in business growth when the sun is shining and batten down the hatches during downturns. We might expect cyclicality in the markets, but that’s not a good recipe for fostering an organisation designed to endure for generations. For that, disciplined attention to priorities and continuous investment is required.