✔ 最佳答案
Investment Banking is a type of wholesale financial instituion. They assist public and private corporations in raising funds in the capital markets and in providing strategic advisory services for merges, acquisitions and other types of financial transactions. They also act as intermediaries in trading for clients for rasising of funds, both in debt and equity. Some investment banks other additional financial services for clients, such as trading of fixed income, foreign exchange, commodity and equity securities. In general, they are considered as "sell side" because they help clients reach out for raising capitals/funds.
Asset Management involves the management of various securities and other assets, to meet the specified investment goals for benefit of the investors. Their clients may be institutions (insurance companies, pension funds, coporations) or private investors (both directly via investment contracts or collective investment schemes such as mutual funds). Their goal is order to maximize their return on investment, or to maximize the return on the asset they manage. In general, they are considered as "buy side" because they act as the principal agent for the funds and look out for investment opportunities.
In summary, some of the key differences are:
1. Investment Banking acts as an agent or intermediary for various clients to raise funds. Asset management acts as a principal or in an advisory role to help owners of the asset to maximize return
2. Investment Banking act on the 'sell-side' of an investment. Asset Management act on the 'buy side' of an investment
3. Investment Banking and Asset Management requires different licenses to operate
4. Investment Banking is typically more 'deal-driven' (because they collect fees from making a transaction happen). Asset Management typically more 'return driven' because they typically collect fees from the profit they made out of an investment.
Hope this helps.