The bad news is that asset managers expect it will take four to seven years to recover the assets under management lost during the recession. The good news is that insurers have been front and center in their efforts to divest such assets in advance of the economic slump. So says a report from McKinsey& Co., released yesterday, that outlines profitability projections.  

The study surveyed more than 100 firms that collectively manage more than $9 trillion of assets.

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