With the announcement of the purchase of NN Investment Partners (NNIP) by Goldman Sachs Asset Management (GSAM), we witnessed another remarkable merger between asset managers in Europe after Amundi announced that it will buy Lyxor earlier this year. From my point of view, this kind of corporate action is normal in an industry where size matters. I predict that we will see a number of medium-sized asset managers getting snapped up by larger groups or doing mergers of equals to reach higher levels of assets under management and to secure (exclusive) access to new customer groups via strategic distribution agreements.

The announced merger between Franklin Templeton Investments and Legg Mason follows a series of other takeovers. It shows that the global asset management industry is further in a consolidation mode, even as the overall assets under management increased massively over the last 10 years. The ongoing corporate activity regarding transactions is driven by the increased pressure on fees for active management, which is shrinking the revenues of asset managers. The trend started in the U.S., but has also reached Europe. One reason for the increased pressure on the revenues of asset managers is the fact that they are no longer

Sky investors on Tuesday received a mini Easter egg. Walt Disney is ready to buy the pay-TV group’s news channel to smooth the regulatory process for merger partner Twenty-First Century Fox. This signal of Disney’s commitment to owning the UK broadcaster boosts the odds of a bidding war with rival Comcast. Rupert Murdoch’s Fox has been stuck in regulatory limbo since late 2016, when the 39 percent shareholder in Sky launched an 11.7 billion pound ($16.5 billion) offer for the rest of the company. Britain’s antitrust regulator said in January the deal could give Murdoch undue influence given his existing