Returns may have been good, but revenue growth overall was weak among asset management firms in 2012.

Median revenue growth among 37 firms analyzed increased 4.4% in 2012, according to a recent analysis from Casey, Quirk & Associates. The 2012 median barely beat the 4.21% increase for the Barclays Aggregate Bond Index last year and lagged behind the double-digit gains posted by indexes tracking U.S. and international stocks. Meanwhile, revenue growth gained 8% and beat annual gains posted by major stock and bond benchmarks in 2011, and jumped 22% 2010.

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