Trust Updates Archive
(Jan. 9, 2013 --Chicago, IL) -- Strong growth in P.I.E. assets is boosting 2012 revenues, according to Trust Performance Report's quarterly update.
In the third quarter, custody assets grew nearly $3.2 trillion compared to the prior quarter. This growth generated just under $1 billion in additional gross revenues for trust institutions. P.I.E. assets grew a more modest $706 billion but generated nearly $800 million in additional gross revenues.
It takes only $890 in P.I.E. assets to generate $1 of gross revenue. It requires 3.5 times as many custody assets ($3,180) to generate $1 of gross revenue.
This revenue efficiency, according to TPR, is why most independent trust companies focus on P.I.E. For a complete copy of the quarterly update Click Here.
The trust industry in the first nine months of 2012 set a new industry record for total assets: $98.9 trillion. Employee benefit trusts, however, are 2012's growth leaders. Growth in EBTs and other P.I.E. assets is also boosting trust institution's bottom line.
Based on revenues for the first nine months of 2012, TPR projects 2012 gross fiduciary revenues at nearly $33 billion--closing in on the industry's record high.
Trust Performance Report's annual data book (published in May) provides both industry and peer group performance data by assets, gross revenue, net income, and account category; subscribers receive quarterly updates. TPR findings are based on its annual survey of the top 1500 fiduciary institutions.
For information on ordering Click Here.
No statement in this issue is offered as or should be construed as legal opinion or advice or as an indicator of future performance.
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