New pensions, harmonisation key to fund industry growth

The Pan-European organisation representing national fund management associations such as the IMA makes the prediction in its annual Fact Book 2004. The book says the changes will cause the amount of money put into funds to grow by up to 10% annually “over the medium term”. Evidence from the US mutual fund industry suggests reforms, if successful, could see significant pots of money placed in collective investments. Some 36% of all US mutual fund assets are held in retirement accounts, with 68% of those assets invested in equity funds as of end 2003, FEFSI says. Fund management h...