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What is Asset Management?
Asset management, broadly defined, refers to any system whereby things that are of value to an entity or group are monitored and maintained. It may apply to both tangible assets and to intangible concepts such as intellectual property and goodwill. Asset management is a systematic process of operating , maintaining, and upgrading assets cost-effectively. Alternative views of asset management in the engineering environment are: The practice of managing assets so that the greatest return is achieved (this concept is particularly useful for productive assets such as plant and equipment); and the process by which built systems of facilities are monitored and maintained, with the objective of providing the best possible service to users
In the financial industry, it is the management of securities and assets to meet certain investment objectives. Often time bulge bracket firms break the Asset Management industry into two groups: Investment Management and Private Wealth Management. Investment management firms and divisions deal with managing larger, institutional capital, which can range upwards from greater than $50million to billions and even trillion of dollar portfolios. These come from entities such as super high networth individuals and families, pension funds, and governments. Private Wealth Management firms and divisions deal with high networth individuals that fall below that but above a firm-determined minimum amount of networth.
Asset management, broadly defined, refers to any system whereby things that are of value to an entity or group are monitored and maintained. It may apply to both tangible assets and to intangible concepts such as intellectual property and goodwill. Asset management is a systematic process of operating , maintaining, and upgrading assets cost-effectively. Alternative views of asset management in the engineering environment are: The practice of managing assets so that the greatest return is achieved (this concept is particularly useful for productive assets such as plant and equipment); and the process by which built systems of facilities are monitored and maintained, with the objective of providing the best possible service to users
In the financial industry, it is the management of securities and assets to meet certain investment objectives. Often time bulge bracket firms break the Asset Management industry into two groups: Investment Management and Private Wealth Management. Investment management firms and divisions deal with managing larger, institutional capital, which can range upwards from greater than $50million to billions and even trillion of dollar portfolios. These come from entities such as super high networth individuals and families, pension funds, and governments. Private Wealth Management firms and divisions deal with high networth individuals that fall below that but above a firm-determined minimum amount of networth.