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Google Commissioned Study on Entering Asset Management

The Financial Times reports that Google commissioned a study of the feasibility of entering the asset management space. According to the article, although a Google source has said there are “no plans to get into the asset management or funds business,” several asset managers fear such a move.  The article also notes that the company already has a venture capital arm, invests in government bonds, and has a “bank-style trading floor” in California to better manage its money. A PricewaterhouseCoopers report, Asset Management 2020: A Brave New World, released earlier this year suggested such a move might occur when it noted that “[a] social media firm such as Google, Facebook or Twitter or product providers such as Apple (through iTunes) or Amazon could, for example, provide front-office services, and partner with, or even buy, a back-office servicing firm to create an integrated [asset management] structure.”