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  "documentTitle": "Reinventing Operations in Asset Management",
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      "text": "From 2014 to 2018, Accenture research found the AUM of 25 publicly traded asset managers grew by 22 percent, whereas revenue edged up by just 1 percent over the same period. Further exacerbating the top line growth challenge, 2018 alone saw an 11 percent decline in the firms' gross margin.",
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      "text": "In May 2019, the percentage of US equity fund assets invested in passive funds reached 47 percent, according to ICI.",
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      "text": "While these are certainly formidable headwinds for asset managers, Accenture's view is that the most pressing issue today for the industry is the decoupling of AUM growth and revenue growth (see Figure 1).",
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      "text": "Binary winners and losers are being created every day. To win in this shifting landscape requires a delicate balance of bold leadership and the right operational capabilities to make it happen.",
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      "text": "This phenomenon has forced asset managers to address the market pressures and competitive forces in their industry by rethinking how their technology and operations support models can better support the front office and improve client engagement.",
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