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The future doesn’t look too bright for many asset managers, according to PwC. The professional services firm conducted a survey of more than 500 asset managers, and estimates that one in six will go out of business by 2027. One factor driving this is increased bond yields driven by higher interest rates, according to Ã山ǿ¼é Desautels Professor Mo Chaudhury. This makes asset managers' services – and accompanying fees -- less attractive to investors. The US Treasury is offering a two-year return of approximately 5 per cent, and a short-term return of more than 4 per cent. This makes investing in the money market attractive compared to risky capital and asset classes. Alternative investments don't currently have good returns either, and cryptocurrencies are on shaky foundations due to recent failures and pending regulations.