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Swiss Asset Management Study 2026
The Swiss asset management industry continued its growth trajectory in 2025, increasing assets under management to around CHF 3.73 trillion. Switzerland has thus consolidated its position as Europe’s third largest asset management center and the industry has underlined its importance as a key pillar of the Swiss financial center..
At the same time, the Swiss Asset Management Study 2026, which was conducted in collaboration with the Asset Management Association Switzerland, paints a nuanced picture: Growth remains heavily dependent on the performance of the global capital markets. Market-driven effects, particularly from technology- and AI-driven segments, significantly contributed to last year’s positive development. By contrast, net inflows still play a minor role, even by global standards, making the business model more susceptible to crises.
“The Swiss asset management industry competes globally for clients, talent and capital. Securing and expanding international market access therefore remains a strategic priority.”
Norman Karrer, Partner
The study also reveals a more challenging market environment: The growing boom in passive investments is squeezing revenue margins, while regulatory requirements are putting pressure on cost margins. Intense competition has recently slightly dampened export business. However, investment products in private markets are still considered promising growth areas, with the potential to have a positive impact on margin erosion and currently limited net new money flows.
On a more positive note, the industry paints an optimistic picture, with more than a quarter of the asset managers surveyed unable to name any disadvantages of Switzerland as a business location (from a producer’s perspective).
Please note: The study is only available in English.
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