combined with the firm's average fee rate, are the key factors indicating an investment management company's top-line revenue. The fee structure may depend on contracted arrangements between each client and the firm or fund. Decentralized protocols also use a variety of ways to incentivize the growth of AUM, typically in the form of offering a return to those who serve the role of providing liquidity on the protocol.

Assets under management rise and fall. They may increase when investment performance is positive, or when new customers