What does global sourcing refer to in asset management?

Global sourcing in asset management refers to the practice of acquiring assets from international suppliers. This approach allows organizations to tap into a broader range of opportunities, which can lead to cost efficiencies, access to specialized resources, and diversification of supply bases. By sourcing assets globally, an entity can benefit from varying economic conditions and emerging market potentials, which can enrich its portfolio and enhance competitive advantage.

This practice is crucial in a globalized economy where assets, services, and resources are no longer confined by geographical boundaries. It promotes a strategic procurement approach where the best quality and pricing can be sourced without the limitation of local markets, thereby providing a more comprehensive asset management strategy tailored to global market dynamics.