Although pre-tax profits fell for the year to 31 October 2018, the operating and pre-tax profit margins of 90.88 percent at London-based Cedar Rock Capital are still exceptional both in absolute and relative terms.
Profit margins of this nature are almost unheard of in any sector, let alone the asset management sector, although a few other UK-based boutiques do come close.
They easily exceed the operating margins generated by its bigger peers, at least according to the database created by the Boston Consulting Group (BCG).
According to “The Digital Metamorphosis”, BCG’s 2018 global asset management repor...
