Gerrard continues to top the list of largest private client portfolio managers, although Man Group p...
Gerrard continues to top the list of largest private client portfolio managers, although Man Group put on the most assets under management over one and three years.
The figures, released last week in the fourth annual Private Asset Managers (PAM) directory published by Tru-Est Group, show Gerrard tops the table with £17.4bn of assets under management. It is followed by Goldman Sachs International, Brewin Dolphin, Coutts & Co and Merrill Lynch, each with more than £10bn in assets under management. Of these largest firms, only Coutts, which is currently expanding its office network, makes it into the top 10 fastest growing firms over one and three years.
Man Group's success, according to PAM editor in chief James Anderson, is based largely on the success of its multi-manager hedge fund expertise which helped it add £5.125bn in assets under management in just three years. He said GAM, though working from a lower base, also showed strong growth, helped by its absolute return track record.
The directory, which costs £295, was set up to bring greater transparency to the private client managers industry. Anderson said that when PAM was set up there was little shopping around by accountants, solicitors and financial advisers, three of the industries most important distribution channels. He said over 80% of those surveyed said the only private client managers they knew of were those they had historical relationships with.
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