The year 2000 edition of the UK Fund Industry Review & Directory has been expanded to include greate...
The year 2000 edition of the UK Fund Industry Review & Directory has been expanded to include greater coverage of investment trusts and offshore funds.
The directory, which is an unofficial bible of the investment industry and was first published in 1988, provides an overview of collective investment products available to UK investors and the asset managers that manage them.
Its primary focus is on the unit trust and Oeic managers and their products, however, this year coverage of FSA-recognised offshore funds has been extended and more in-depth analysis of investment trusts has been included.
The directory, which is published by PBI Newmedia, provides a snapshot of the fund management industry and the products available in January, 2000, and is compiled through a survey of asset managers.
It also contains nine pages of tables covering group rankings, group ownership details, and statistics detailing market share. For the first time this includes statistics on investment trusts and offshore funds.
The directory is not limited to the providers and their products, it also contains research on the investment industry as a whole including the results of research into consolidation in the industry and levels of foreign ownership of UK-based asset managers.
Research carried out in compiling the directory shows that Lloyds TSB is now the largest supplier of retail collective investments in the UK with £20.17bn of assets under management.
The next largest is the Prudential Corporation through Prudential Portfolio Managers, Scottish Amicable Unit Trust Managers and M&G Investment Management. The third largest group is the Robert Fleming Group, including assets managed by Save & Prosper, which has £14.61bn of assets under management.
Foreign ownership is up 59% since the publication of the 1996 directory, with foreign asset managers in ownership of 37.93% of assets under management in the UK unit trust and Oeic industry, up from 23.84% in 1995. US asset managers are the biggest foreign owners with 9.09% of the industry.
The biggest providers of unit trusts and Oeics are groups made up of two or more investment managers. Lloyds TSB with £18.59bn under management is the biggest such group, followed by the Prudential which has £14.92bn. Schroders is the single biggest unit trust and Oeic manager with £14.89bn under management, followed by Fidelity and M&G which have £14.66bn and £12.53bn respectively.
The biggest retail sales went to M&G with £1.65bn in 1999, followed by Gartmore and Threadneedle which had retail sales of £1.3bn and £978.12m respectively. Baring Fund Managers had the highest institutional sales of £1.4bn.
Intermediary sales were led by Jupiter with an 8.46% market share followed by Invesco with 6.67% and M&G on 6.36%. Virgin Direct topped the direct sales market with an 11.53% market share compared to 11.02% for L&G and 10.24% for M&G.
The UK Fund Industry Review & Directory 2000 is available for £845 from PBI Newmedia, Fifth Floor, 12-18 Paul Street, London, EC2A 4NX.
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