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U.K. (FTSE) Asset Management Industry Analysis

UpdatedJan 06, 2026
DataAggregated Company Financials
Companies126
  • 7D1.6%
  • 3M-8.4%
  • 1Y3.8%
  • YTDn/a

The Asset Management industry is up 1.6% in the last week, with St. James's Place up 5.3%. In the same time, Mayflower Acquisition was down 7.2%. This takes the industry's 12 month performance to a gain of 3.8%. Looking forward, earnings are forecast to grow by 12% annually.

Industry Valuation and Performance

Has the U.K. Asset Management Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 06 Jan 2026UK£94.1bUK£41.1bUK£10.6b13.2x8.9x2.3x
Thu, 04 Dec 2025UK£91.9bUK£42.2bUK£11.3b12.8x8.1x2.2x
Sat, 01 Nov 2025UK£105.7bUK£40.3bUK£9.6b13.8x11x2.6x
Mon, 29 Sep 2025UK£99.7bUK£40.5bUK£9.6b12.6x10.4x2.5x
Wed, 27 Aug 2025UK£100.2bUK£40.4bUK£9.5b13.5x10.5x2.5x
Fri, 25 Jul 2025UK£101.4bUK£49.8bUK£9.1b13.2x11.1x2x
Sun, 22 Jun 2025UK£94.6bUK£49.7bUK£9.1b13x10.4x1.9x
Tue, 20 May 2025UK£93.4bUK£49.7bUK£9.2b12.6x10.2x1.9x
Thu, 17 Apr 2025UK£89.6bUK£49.1bUK£8.5b10.5x10.6x1.8x
Sat, 15 Mar 2025UK£97.9bUK£49.4bUK£8.5b11.5x11.5x2x
Mon, 10 Feb 2025UK£102.3bUK£51.0bUK£8.1b11.7x12.7x2x
Wed, 08 Jan 2025UK£95.0bUK£51.0bUK£8.1b11x11.7x1.9x
Fri, 06 Dec 2024UK£96.8bUK£50.9bUK£8.0b12.1x12.1x1.9x
Sun, 03 Nov 2024UK£90.4bUK£50.5bUK£7.7b11.6x11.7x1.8x
Tue, 01 Oct 2024UK£92.8bUK£50.5bUK£7.7b11.9x12.1x1.8x
Thu, 29 Aug 2024UK£88.7bUK£50.5bUK£7.4b11.9x12x1.8x
Sat, 27 Jul 2024UK£88.3bUK£40.6bUK£7.0b15.2x12.6x2.2x
Mon, 24 Jun 2024UK£89.3bUK£40.8bUK£6.9b15.6x13x2.2x
Wed, 22 May 2024UK£85.4bUK£40.6bUK£6.8b16.2x12.5x2.1x
Fri, 19 Apr 2024UK£80.2bUK£41.3bUK£7.4b14.9x10.9x1.9x
Sun, 17 Mar 2024UK£76.9bUK£40.9bUK£7.1b16.7x10.9x1.9x
Tue, 13 Feb 2024UK£75.2bUK£35.1bUK£7.4b13.6x10.1x2.1x
Thu, 11 Jan 2024UK£91.1bUK£36.0bUK£7.4b15x12.2x2.5x
Sat, 09 Dec 2023UK£79.2bUK£36.1bUK£7.5b14.4x10.6x2.2x
Mon, 06 Nov 2023UK£72.8bUK£35.9bUK£7.5b12.4x9.8x2x
Wed, 04 Oct 2023UK£73.7bUK£36.2bUK£7.5b12.5x9.9x2x
Fri, 01 Sep 2023UK£72.2bUK£36.2bUK£7.7b13.7x9.4x2x
Sun, 30 Jul 2023UK£74.9bUK£33.7bUK£7.6b13.8x9.9x2.2x
Tue, 27 Jun 2023UK£65.2bUK£18.2bUK£7.4b13.5x8.8x3.6x
Thu, 25 May 2023UK£73.1bUK£18.3bUK£7.6b13.8x9.6x4x
Sat, 22 Apr 2023UK£71.4bUK£17.5bUK£6.7b13.8x10.7x4.1x
Mon, 20 Mar 2023UK£69.2bUK£18.0bUK£7.0b13x9.9x3.8x
Wed, 15 Feb 2023UK£77.2bUK£18.5bUK£8.3b12.6x9.3x4.2x
Fri, 13 Jan 2023UK£72.3bUK£18.5bUK£8.2b13.1x8.8x3.9x
Price to Earnings Ratio

8.8x


Total Market Cap: UK£72.3bTotal Earnings: UK£8.2bTotal Revenue: UK£18.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Asset Management Industry Price to Earnings3Y Average 10.7x202420252026
Current Industry PE
  • Investors are pessimistic on the British Asset Management and Custody Banks industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 8.9x which is lower than its 3-year average PE of 10.7x.
  • The industry is trading close to its 3-year average PS ratio of 2.4x.
Past Earnings Growth
  • The earnings for companies in the Asset Management and Custody Banks industry have grown 8.7% per year over the last three years.
  • Revenues for these companies have grown 30% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does U.K. Asset Management compare with similar industries?

GB Market1.49%
Financials2.46%
Capital Markets1.60%
Asset Management1.62%
Financial Exchanges and Data1.57%
Investment Banking and Brokerage1.57%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
STJ St. James's PlaceUK£14.484.1%
+UK£296.4m		67.8%PE14.7x
EMG Man GroupUK£2.5511.2%
+UK£285.7m		21.9%PE20.8x
ICG ICGUK£21.202.3%
+UK£137.6m		0.6%PE10.2x
JUP Jupiter Fund ManagementUK£1.739.3%
+UK£78.2m		101.6%PE15.7x
BPT Bridgepoint GroupUK£2.943.1%
+UK£74.8m		-14.0%PE43.3x

Latest News

SDR
UK£4.15
Schroders
7D
1.0%
1Y
29.8%
BPT
UK£2.94
Bridgepoint Group
7D
3.1%
1Y
-14.0%
EMG
UK£2.55
Man Group
7D
11.2%
1Y
21.9%

EMG: Future P/E Assumptions Will Test Sustainability Of Recent Optimism

Analysts have lifted their price targets on Man Group to a range of £1.88 to £2.41 per share, reflecting updated assumptions that include a fair value estimate of 1.92, a discount rate of 8.61%, revenue growth of 12.21%, a profit margin of 29.52% and a future P/E of 6.84. Analyst Commentary Recent Street research on Man Group points to a cluster of higher price targets between 188 GBp and 241 GBp, with ratings such as Equal Weight and Neutral from large banks including JPMorgan and Morgan Stanley.
XPS
UK£3.39
XPS Pensions Group
7D
-1.2%
1Y
3.0%
ASHM
UK£1.83
Ashmore Group
7D
3.6%
1Y
17.3%

ASHM: Strong Cash Generation And Dividends Will Support Future Upside

Analysts have slightly reduced their price target on Ashmore Group to 165 GBp from 168 GBp, citing a marginally lower discount rate and modest tweaks to long term growth and profitability assumptions. Analyst Commentary Bullish analysts note that the revised price target, while modestly lower, still implies upside from current trading levels.
JUP
UK£1.73
Jupiter Fund Management
7D
9.3%
1Y
101.6%

JUP: Lower Discount Rate Will Still Leave Shares Facing Structural Headwinds

Analysts have raised their price target on Jupiter Fund Management to £1.62 from £1.50, reflecting slightly stronger revenue growth expectations and a modestly lower discount rate. Together, these factors support a marginally higher valuation multiple.
N91
UK£2.24
Ninety One Group
7D
2.8%
1Y
57.5%

N91: Dividend Momentum And Margin Resilience Will Underpin Future Share Performance

Analysts have raised their price target for Ninety One Group to 226 GBp from 190 GBp, citing modestly lower risk assumptions and confidence in the firm's revenue growth and profit margin profile. Analyst Commentary Recent research updates reflect a cautiously constructive stance on Ninety One Group, with successive price target increases signaling improving confidence in the company’s earnings trajectory and capital return potential.
STJ
UK£14.48
St. James's Place
7D
4.1%
1Y
67.8%

STJ: Gradual Price Uplift Will Support Stronger Future Return Potential

The analyst price target for St. James's Place has been raised, with a modest uplift in fair value to around £15.42 per share. Analysts point to a slightly lower discount rate, marginally improved long term profit margins, and a small uptick in forward valuation multiples to support their more constructive stance.
LIO
UK£2.47
Liontrust Asset Management
7D
-7.0%
1Y
-46.6%

LIO: Share Buybacks And Margin Improvements Are Expected To Drive Upside

Analysts have trimmed their price target on Liontrust Asset Management by roughly 10 percent to reflect a slightly higher perceived risk and more modest long term revenue outlook, partly offset by expectations of improved profit margins and a marginally lower future earnings multiple. What's in the News Liontrust Asset Management has commenced a share repurchase programme from November 27, 2025, allowing buybacks of up to 6,376,461 shares, or 10% of its issued share capital, with repurchased shares to be held in treasury (Key Developments).
MAY
US$10.13
Mayflower Acquisition
7D
-4.7%
1Y
n/a
ICG
UK£21.20
ICG
7D
2.3%
1Y
0.6%

ICG: Higher Price Outlook Will Support Long-Term Earnings Durability

Analysts have nudged their price target on ICG modestly higher to £28.00 from £26.00, citing a slightly lower discount rate, a marginally stronger long term margin outlook and a still supportive, though somewhat tempered, revenue growth profile. Analyst Commentary Analysts characterise the latest price target revision as a fine tuning of an already constructive view on ICG, reflecting incremental confidence in the durability of earnings and capital deployment, rather than a wholesale change in thesis.
TAM
UK£6.66
Tatton Asset Management
7D
-2.1%
1Y
-3.2%
HICL
UK£1.16
HICL Infrastructure
7D
-0.7%
1Y
0.5%

HICL Infrastructure (LON:HICL) Is Increasing Its Dividend To £0.0209

Nov 21
HICL Infrastructure (LON:HICL) Is Increasing Its Dividend To £0.0209
RCP
UK£22.35
RIT Capital Partners
7D
-1.8%
1Y
14.1%

RIT Capital Partners Plc's (LON:RCP) Prospects Need A Boost To Lift Shares

Oct 02
RIT Capital Partners Plc's (LON:RCP) Prospects Need A Boost To Lift Shares
PINT
UK£1.08
Pantheon Infrastructure
7D
-1.8%
1Y
20.5%
BPCR
US$0.91
BioPharma Credit
7D
-1.1%
1Y
5.8%