From financialnewswire.com.au: Australian fund managers are anticipated to face a gradual medium-term earnings decline due to uncertainties from the US Trump tariff regime, with volatility likely suppressing investment flows.

Morningstar’s analysis suggests that while the impact on earnings will be manageable this fiscal year, it will be more pronounced in fiscal 2026, leading to expectations of net outflows for over half of the covered firms.

However, there is optimism for firms like Perpetual and Insignia, which are projected to provide good value due to cost efficiencies and steadier fund flows.