In 2024, the assets managed by Swiss asset managers reached a record level of CHF 3,45 trillion, representing a 12,3 percent increase. This solidified Switzerland’s position as the third-largest asset management hub in Europe, with an 11 percent market share, according to a statement released by the Asset Management Association Switzerland (AMAS) on Wednesday.

The results of the Swiss Asset Management Study 2025, conducted in collaboration with zeb consulting, reveal that current growth is largely driven by market performance. The study offers an overview of the structural development, performance, and strategic outlook of the sector.

«This growth affirms the strength, resilience, and competitiveness of Swiss asset management,» said AMAS CEO Adrian Schatzmann. «But it also highlights the need to evolve—because nearly all of the growth stems from market performance, with only limited contributions from net new money inflows.»

International Reach and Private Markets

Survey results highlight the strategies Swiss asset managers are prioritizing to ensure continued sustainable growth. Key focus areas include expanding international reach, tapping into private markets, and accelerating innovation.

Nearly 70 percent of surveyed asset managers list strengthening their market position as a top strategic priority, followed by product expansion (34 percent).

Technologies such as Artificial Intelligence (AI) and Distributed Ledger Technology (DLT) are seen as essential tools for enhancing future efficiency and value creation. According to the survey, private markets—spanning private equity, infrastructure, and private credit—are viewed as particularly dynamic segments.

More than two-thirds of asset managers pursuing M&A transactions cite access to private markets as their primary objective. Unlocking this segment is expected to generate new revenue streams and ease margin pressures.

The next phase of growth will require clear strategic direction. This includes strengthening global market access through diplomacy and regulatory engagement, as well as investing in innovation.

CHF 320 Million per Full-Time Position

With 31 percent of managed assets coming from foreign clients, Swiss asset management is a significant export industry. Key drivers of this success include the country's political stability, well-developed capital markets, and access to a global talent pool. Between 2019 and 2024, the sector generated over CHF 4,2 billion in income taxes. As of 2024, the industry employed nearly 60'000 people.

The average AuM per full-time position stood at CHF 320 million. The average annual growth rate (CAGR) was 5,5 percent, while the cost-income ratio remained stable at 73%. Though highly productive, the industry faces increasing pressure from market saturation and margin compression, AMAS noted.

«As our study shows, Swiss asset management is well positioned. But to remain globally competitive, the industry must scale confidently, innovate ambitiously, and stay globally engaged,» Schatzmann emphasized. «Access to international markets must remain a top priority.»