What 100 asset managers taught us about surviving market turmoil in 2025

We have weathered another year of profound change. From navigating Trump's April tariffs to grappling with persistent geopolitical tensions, UK asset managers have once again been forced to adapt at breakneck speed. Our latest research surveyed 100 senior asset managers to understand how the industry is responding to mounting pressures.

Here's what we discovered.

1. Our relationship to technology is existential.

The numbers don't lie: 53% of UK asset managers now identify technological disruption as their top threat over the next three years, a significant jump from 37% in 2024. The acceleration caught our attention. 

[Read more: Thread or opportunity? How asset managers are making AI work]

Likely driving this surge: the realisation that a defensive stance on technology adoption is no longer feasible. Some firms are watching competitors automate regulatory workflows, streamline fund operations and integrate data systems whilst they continue to wrestle with manual processes. The gap between the leaders and laggards is widening quickly.

2. Data is everybody’s problem. 

Here's the paradox that we see underscoring modern asset management: 90% of firms say data is critical to internal decision-making, yet 67% still occasionally experience delays in publishing fund documents or regulatory disclosures due to data issues.

The problem clearly isn't awareness. It's execution. Data fragmentation affects 56% of firms, with legacy systems creating bottlenecks that slow everything from regulatory compliance to client reporting. Nearly 9 in 10 firms feel commercial pressure to deliver data updates faster and more accurately but feel trapped by outdated infrastructure.

The emergent winners are building unified data architectures that eliminate redundant entry points and create a single source of truth across their operations. Learn how here.

3. AI is past its pilot phase.

Asset management has accepted AI as a fundamental piece of the tech puzzle. Only 26% of firms are still focused on early-stage exploration or pilots, a major shift from last year when most were stuck in proof-of-concept limbo.

Today, 31% are actively using AI in limited functional areas, 22% have deployed it broadly across operations and 16% have fully integrated it into core business processes. The firms furthest along aren't necessarily the biggest or best-funded; they're the ones that got their data foundations right first.

What we’re learning is this: AI maturity is built rather than bought.

4. Growth through AUM alone is dead

Asset growth as a primary concern has plummeted from 47% in 2024 to just 33% this year.  This isn't because firms have solved their growth challenges. It's because they've realised that simply accumulating assets under management isn't a complete or sustainable strategy anymore.

The focus has shifted to efficiency. Cost pressure and operational complexity now top the list of business challenges at 49%, followed closely by fee compression at 46%. Firms are finding ways to build profitable, efficient operating models rather than chase growth for growth's sake.

With global AUM reaching a record $128 trillion, but revenue growth still heavily dependent on market performance rather than net inflows, the industry is forced to acknowledge that operational excellence is the new competitive edge.

5. Strategic partnerships have become mission-critical

The days of choosing vendors based solely on cost or immediate functionality are over. When selecting data or regulatory services partners, 57% of asset managers now prioritise breadth of solutions whilst 53% seek open platform and API integration capabilities. [Learn more here]

This shift reflects a deeper understanding that vendor fragmentation poses an operational risk. Firms are moving away from managing multiple point solutions and towards building ecosystems with partners who will scale alongside their growth, anticipate regulatory changes and integrate seamlessly with existing operations.

The perfect partner of the future may not be structured like a traditional supplier, but rather as an extension of your operating model.

What this means for the year ahead

Our findings paint a picture of an industry in transition. 

Technology disruption isn't some distant threat; it's reshaping competitive dynamics right now. We see upside for the firms that embrace operational transformation, invest in unified data infrastructure and build strategic partnerships that underscore agility.

For asset managers, the path forward requires difficult decisions about technology investments, data infrastructure and partnerships. As always, the firms making strategic moves based on comprehensive market intelligence will be the ones still thriving when the dust settles.

Our complete 2025 Asset Managers Report provides the detailed analysis, benchmarking data and strategic insights you need to position your firm for success. Download the full report below to access in-depth findings from 100 senior UK asset managers and discover how leading firms are navigating this period of change.