Over the years, asset management has become a huge sector in the United States. According to PWC, globally, asset managers managed $110 trillion worth of assets in 2020. This is a substantial 40 percent increase compared to what was applied in 2015. Asset managers are primarily saddled with making investment decisions, managing risks, and creating wealth. Asset managers often manage corporations, governments, the wealthy, and corporate investors. While some asset managers might work individually, some are employed by asset-management companies, banks, and other financial institutions. Asset management can be broadly divided into infrastructure management, enterprise asset management, financial asset management, and public asset management. Financial assets are one of the most managed assets. Financial asset management involves the management of client investment accounts and investment funds. Mutual funds, bonds, and cash are examples of financial investment. In managing financial assets, the asset manager gets the client acquainted with the risk involved with owning a particular financial asset. They assess the various financial assets the client must deposit while helping them chart a path to their financial goals. Similarly, asset managers also manage digital assets. Digital asset refers to materials or contents that can be stored digitally. Today, examples of digital assets have taken a broader form. Photos, documents, videos, and blog posts are considered digital assets.

1. Various Types of Asset Management
Stuart Hansen China

2. Introduction
Over the years, asset management has become a huge sector in the United States.
According to PWC, globally, asset managers managed $110 trillion worth of assets in
2020. This is a substantial 40 percent increase compared to what was applied in
2015. Asset managers are primarily saddled with making investment decisions,
managing risks, and creating wealth.

3. Asset managers often manage corporations, governments, the wealthy, and
corporate investors. While some asset managers might work individually, some are
employed by asset-management companies, banks, and other financial institutions.
Asset management can be broadly divided into infrastructure management,
enterprise asset management, financial asset management, and public asset
management.

4. Financial assets are one of the most managed assets. Financial asset management
involves the management of client investment accounts and investment funds.
Mutual funds, bonds, and cash are examples of financial investment. In managing
financial assets, the asset manager gets the client acquainted with the risk involved
with owning a particular financial asset. They assess the various financial assets
the client must deposit while helping them chart a path to their financial goals.

5. Similarly, asset managers also manage digital assets. Digital asset refers to
materials or contents that can be stored digitally. Today, examples of digital assets
have taken a broader form. Photos, documents, videos, and blog posts are
considered digital assets.

6. Therefore, as an institution or corporation grows, digital asset managers are often
employed to catalog, protect, and manage its digital assets. They often use the
Digital Asset Management (DAM) system in achieving these tasks. Digital asset
managers, therefore, serve as custodians and curators of an organization’s digital
assets.

7. Furthermore, public asset management is a kind of asset management that involves
managing and using public assets primarily controlled and owned by local
governments. Local governments often own and hold several properties and assets
in trust on behalf of the public. These assets could include community centers,
roads, bridges, airports, sewer systems, schools, bus parks, waterworks, etc.

8. The government's responsibility is to ensure a sustainable urban management
framework. Therefore, they employ public asset management to primarily ensure
that public assets last long and function optimally to improve the public's quality of
life, ensuring economic efficiency.

9. IT asset management (ITAM) is equally an important aspect of asset management.
The objective of IT asset management is to ensure that the value of IT equipment in
an organization is duly maximized. This is achieved by combining contractual,
inventory, and financial data to monitor IT assets throughout their life cycle.

10. Fixed asset management is also an essential aspect of asset management. It
involves the management of fixed assets and investment in capital projects. Capital
projects and fixed assets play crucial roles in construction, telecoms, and utilities.
Therefore, they must be adequately managed.

11. Fixed asset managers ensure that fixed assets like property, equipment, and plant
are adequately accounted for. They are also responsible for recording the gradual
loss of value and depreciation of fixed assets. Today, fixed assets are
metamorphosing to include intellectual property rights and brands.

12. Organizations often have several assets that need to be adequately monitored and
managed to ensure the smooth flow of business activities. Enterprise asset
management (EAM) is a form of asset management that allows corporate bodies or
other institutions to manage and assess the reliability and quality of their assets.