> asset managers are paid for getting more assets under management, not their fund's profits.

I've always wondered why they aren't paid a percentage of profits? That would align their interests with the customers'.

They're generally paid both. They often charge "two and twenty" meaning 2% yearly of the assets under management and 20% of the profit. (Of course they don't absorb 20% of the losses in a bad year)

That's only hedge funds, which are a small fraction of total fund capitalization.

What are the percentages of the market occupied by different fund types? Where would I go to look that up?

Or even a percentage that increases by the percentage of profit.