In a recent speech at the London Business School, Bank of England executive director for financial stability Andrew Haldane argues that we are heading into a new ‘age of asset management’ that will create new challenges for regulators and could destabilize economies in the future. Growth in asset management industry The asset management industry is growing rapidly, according to PricewaterhouseCoopers it is on track to hit $100 trillion AUM by 2020. Alternatives, including hedge funds, private equity and other specialized funds, has gone from $2 trillion AUM in 2003 to $6 trillion in 2012, and passively managed tracking funds have…