Trust Updates Archive

Assets Revenues Trusts 2013 first quarter Trust Estates A.M. Publishing Garbo P.I.E. Growth Boosts Revenue, Even as Total Assets Decline

(June 27, 2013 --Chicago, IL) -- Total industry asset declines were concentrated in custody accounts, which masked strong asset increases in P.I.E. accounts, according to TRUST PERFORMANCE REPORT’S first-quarter update. TPR is a sister publication of TRN.

P.I.E. include traditional trust accounts: personal trusts (including foundation accounts), investment management agencies, and employee benefit trusts.

Some of the industry’s largest institutions are reporting growth in traditional trust assets for the first time in four years, even as total assets decline. This shift has pushed first-quarter gross revenues to near record-breaking levels.

Gross industry revenues in the first quarter were $8.1 billion, close to the historical high. Even custody accounts, which experienced asset declines, generated increased revenues, especially at the largest institutions.

The good news is in traditional assets: personal trusts, investment management agencies, and employee benefit accounts, as well as foundation accounts (P.I.E.). To generate $1 of revenue requires only $20 more of P.I.E. assets in 2012.

Historically, first-quarter revenues represent between 22 and 23 percent of annual gross revenues. The spike in first-quarter earnings suggests 2013 will be a strong earnings years.

P.I.E. Index

In the first quarter, it took an average of $890 in P.I.E. assets to generate $1 of gross revenue. It requires nearly 7.5 times as many custody assets ($6,600) to generate $1 of gross revenue.

For a complete copy of the quarterly update Click Here.

Trust Performance Report 2013’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 more best practices and benchmark data see Trust Performance Report 2013. For information on ordering Click Here or the link below.

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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