Group had a 6.13% share of the UK retail funds market at the end of last year
In 2000, Fidelity topped the UK retail funds industry in terms of assets under management and market share, overtaking Schroders, which saw its market share fall by just under 1%.
Fidelity, which has £16.5bn in assets under management, had a 6.13% market share at the end of 2000, according to the newly published UK Fund Industry 2001 Review & Directory from PBI Newmedia.
Schroders, which was in second place as of the end of 2000, has a market share of 4.78%, M&G's is 4.68% and Threadneedle has 4.26%, having climbed from 3.93% in 1999.
However, with the combination of Invesco and Perpetual's assets under management following its consolidation earlier this year, Schroders is likely to drop into third place. The combined entity boasts assets under management of £15.3bn and a market share of 5.7%.
Schroders saw its unit trust assets under management fall by £2.01bn in 2000, however, Aberdeen was a big gainer, seeing its unit trust/Oeic assets under management jump by £1,27m, much of it on the back of gross sales of £972.47m of John Pullar-Strecker's Aberdeen Technology fund.
The movements came in a year when gross unit trust/Oeic sales were up by around 20%, but due to market conditions assets under management rose by just 3% compared to a 39% growth in 1999.
Total assets under management in unit trust/Oeics grew to £260bn, however, investment trusts actually saw assets held decline from £59bn at the end of 1999 to £56.9bn at the end of 2000.
According to the directory, the best selling fund in 2000 was Rory Powe's Invesco GT European Growth with gross sales of £1,01bn. Ken Foreman's Standard Life International brought in £944.78m, Gartmore Pacific Strategy, managed by Neil Rogan and Margaret Gadow, attracted £863.11m and Henderson Technology, managed by Paul Kleiser and Stuart O'Gorman, took £806.72m.
Fidelity led unit trust and Oeic gross sales last year with £4.8bn, ahead of Threadneedle with £4.1bn and Gartmore with £3.2bn. Fidelity also had the leading market share of the direct sales channel with 15.80% and was one of the top three intermediary-retailed managers, just behind Aberdeen and Hendersons.
The groups with the most rapid growth of funds under management were Artemis and ABN Amro, both big winners in the 2000 Isa season, however Artemis saw an increase in funds under management of 682.25% compared to 240.5% for ABN Amro.
There was an unprecedented level of fund manager movements during the year and less than 40% of managers on UK-based Oeics and unit trusts now have a track record of four or more years.
Just under 7% have a track record of 10 years or more. Among them are John Botham, with 27 years at the helm of the Henderson European Capital Growth fund, Michael Wood-Martin, also at Hendersons, with 23 years as manager of the group's Japan portfolio, and Anthony Bolton, with 22 years in charge of Fidelity Special Situations.
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