A generally simple and straightforward collection of financial procedures, strategies, and mechanisms used to oversee assets to maintain their value or increase it over time.
Asset management is a broad field in the corporate world that is concerned with how non-digital and digital assets are managed. These assets could be in the form of funds (that is, fiat or crypto), possessions (buildings, cars, furniture), information, or investments. The primary goal of this field is to ensure that the value of the asset(s) in question is maintained within a specified period of time via tested strategies. Thus, asset management can be carried out by the individual or group who owns the assets or an agency acting in the interest of the owner.
Asset management is an important aspect of financial management, especially as it has to do with short and long-term investments, risk management, wealth building, and every other theme associated with the value of an asset.