Mercer Consulting's new European Pension Fund Managers' Guide says Barclays Global Investors retaine...
Mercer Consulting's new European Pension Fund Managers' Guide says Barclays Global Investors retained its top ranking as the company with the most European pension fund assets under management - £148bn.
Second spot is taken by Deutsche Asset Management, followed by Legal & General, Credit Suisse and Merrill Lynch.
However, the guide also points out that in the battle for market share, pure growth in assets is no longer enough to sustain business growth and managers are increasingly being forced to look to product mix and profitability.
Falling equity markets have caused significant investment flows towards property and hedge funds, while at the same time the number of new products being launched has fallen sharply and existing products have been rationalised out of existence.
Another change is the growth in non-domestic fund managers, which now have an 8% market share across Europe compared to just 2% some five years ago.
Rationalisation is also hitting fund managers, and the largest groups continue to get bigger through M&A activity.
UBS, the biggest, now controls assets greater than every economy in Europe apart from Germany, or $1.5trn.
The increase in minimum AE contributions has had little impact on opt-out rates - with cessations after April increasing by less than two percentage points, data from The Pensions Regulator (TPR) shows.
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