Edinburgh sees fall

Edinburgh Fund Managers has seen an 18% decline in funds under management for the year to 31 January 2001, with assets falling from £8.6bn to £7.1bn. The group has cited the substantial decline in world equity markets as the major cause of the decline in assets, with 12% of the overall fall occurring in the second half of 2001. John Wright, chairman of Edinburgh, said falls in world equity markets to January 2002 reduced consumer confidence and created a difficult environment for all investment houses, reducing revenues and new business sales. Wright added that the effect of the poor ...