The objective of this paper is to look at the performance of Property and Asset Management (PAM) in the UK over the past five years. This part of the property industry suffers from extreme cost pressure to the point where profitability is in question. The paper discusses different business models for PAM and uses a detail process model to pull out the key metrics for the industry. Using the REMark survey of property managers and funds it reports upon the performance of property and asset managers with respect to efficiency and collection performance over a five year period, drawing out key trends.