The asset management industry is also expected to resume its growth trend assuming an effective containment of the COVID- 19 pandemic, with positive support from increasing global wealth. At the same time, asset managers face a number of challenges, including regulatory complexities and revenue and margin com- pression. The continued rise of passive and low-fee products reflects ongoing fee sensitivity from investors. Although fees for alternative strategies have been more resilient, market trends have led to a need for more innovative products and solutions. In this environment, managers must demonstrate differentiating capabilities including not only strong investment performance, but also other value-add capabilities such as risk management and controls, compliance, client reporting and data security.