This study of 176 leading asset management firms compares their perspectives and practices at a time of accelerating change. It builds on a Thinking Ahead thesis that innovation of the firm itself, its cultural operating system, is critical to future success.
Drawing on discussions with asset owners and managers, we apply the concept of organisational alpha to asset managers, examining how people, process and technology contribute to performance.
Based on over 25,000 data points from CEOs and CIOs, the report combines data snapshots and narrative to highlight best practices and the importance of working on the system itself.
Taking a systems perspective, we explore how interconnected factors shape outcomes, arguing that a holistic, ‘joined-up’ approach outperforms siloed thinking. Alongside HI x AI, resilience and next-generation foresight, this forms a new strategic blueprint for asset management firms, and surfaces the opportunities ahead.
Discover the reports
Global Asset Manager Peer Study – Summary report
This summary includes a snapshot of the asset management story arc and key data highlights.
Global Asset Manager Peer Study – Full Report and Data pack (members only)
Discover the key findings, study highlights and executive summary. This report also covers the asset management story arc.
Our full data pack is a self-reported industry snapshot on Org-Alpha. It breaks down the study methodology, what Org-Alpha is and the numbers behind it.
Study at a glance
MANAGER TYPE
Exploring the performance edge of Org-Alpha
Org-Alpha is the engine behind performance and resilience.
The org-alpha is the organisation’s capacity to convert remit, rules & motivations, process & technology into skill
& performance & resilience via talent, leadership, culture, governance, tech fluency and joined-upness.
Key Findings
HI × XAI will be decisive
77% see the combination of human intelligence and explainable AI as a key source of differentiation.
Most managers are still pre-stack
Core intelligence ecosystem/infrastructure sits below benchmark.
Tech spend has room to grow
At 12% of OpEx on average, managers need to sensitively think about the rebalance between tech and investment spending.
Next-gen switchover is weak and under‑developed
Capabilities are not yet tuned to systemic risk, real‑world outcomes and stewardship.
Org Alpha Deficits
Managers are pre-stack
Strong discretionary human capabilities only partially enabled and amplified by tech and AI.
Governance not yet on the right cadence
Frameworks are not yet decision-ready, adaptive, or operating at system level.
Fragmented at the seams
Capabilities to connect systems, teams, and decision processes remain fragmented across the organisation.
Next Gen Finesse
Not yet well-tuned to systemic risks, real-world outcomes, or long-term stewardship.
Showcasing the results with our network
WTW’s Manager Ideas Exchange Conference, Europe
Plus: Leading asset owners share their 2026 priorities, and what asset managers need to do better.
More resources
Blog: A self-reported asset management industry snapshot on Org-Alpha
Insights from the Global Asset Manager Peer Study, by Andrea Caloisi, Researcher at Thinking Ahead.
An expanding mandate: A systems-level framework for asset management paper
ByAndrea Caloisi, Thinking Ahead and Aaron Filbeck, CAIA Association
Measurement tools
Org-Alpha scorecard
The Org-Alpha scorecard is Thinking Ahead Institute’s integrated framework for assessing an investment organisation’s overall effectiveness – its Org-Alpha. Each manager’s effectiveness is rated across 12 property settings spanning Design, Soft, and Identity, identifying what’s solid, what needs strengthening, and where the organisation creates real value.
Explore more about the model on our Organisational Alpha page.
Studies of this kind – capturing primary data at this scale and from such an innovative angle – remain rare, which makes the signal all the more valuable. […] The industry comes across as rich in purpose and macro foresight, but it is still working to translate that conviction and ambition into operational readiness and system-wide capability.
Roger Urwin,
Co-founder of the Thinking Ahead Institute
