After posting average annual returns of 21% for the past 10 years, compared to 9% by the S&P 500, returns of publicly-traded mutual fund companies are going to slow considerably, CBSMarketWatch reports, citing a report by UBS analyst Glenn Schorr.

Schorr’s assessment is based on the projected single-digit performance of the markets over the next decade and how that will likely dampen investor interest. He also foresees alternative investments – such as hedge funds, separately managed accounts and exchange-traded funds – capturing market share from fund companies, noting the increasing pressure to lower fees at a time when funds are being hit with higher costs due to new regulations.

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