As the asset management industry enters a more challenging period marked by geopolitical uncertainty and macroeconomic headwinds, Broadridge identifies Asia Pacific (Apac) as its fastest-growing region globally.

Broadridge’s 2026 Global Demand Model (GDM) Trends Report, which examines how the global asset management industry is expected to evolve through 2028, found that Apac will benefit from an expanding middle class and pension reforms.

The region also has a track record of organic expansion and a broadly positive medium- to long-term outlook. Its assets under management are expected to grow at an annual rate of 6%.

“However, while sentiment toward Apac remains constructive, meaningful downside risks persist, particularly as growth will depend on the evolution of key external factors, including conflict in the Middle East and continued tariff-related disruption,” the authors of the GDM report warned.

Worldwide, the GDM projects that North America will see the largest increase in total assets under management growth, rising to $14trn over the next three years, but ageing demographics will slow down new institutional funds as they focus on retirement products.

Other findings include that retail investors will play a larger role in future growth. “As fee pressure continues, firms are increasingly looking to retail investors and wealth channels to drive revenue growth,” it noted.

Meanwhile, new product opportunities will continue to emerge. For instance, active exchange-traded-funds are gaining traction beyond North America, while private markets are becoming increasingly accessible to individual investors, creating new opportunities for asset managers.

Finally, it said that “distribution is becoming a competitive differentiator”. The research suggests firms are increasingly shifting from investment-led to distribution-led growth strategies as competition intensifies.