asset management

EU rules have so far failed to create a viable single market in asset management, costing consumers of financial products billions of euros in wasted opportunity, according go Thomas Balk, European president mutual funds at Fidelity International.

Britannic Group is merging with Resolution Life in a deal worth around £1.8bn to the closed book life business firm and which will see Resolution bring its asset management in-house.

Research jointly conducted by KPMG and consultancy Create has found asset management firms are intent on greater use of outsourcing and are looking to mergers and acquisitions to build skills rather than scales of business.

Investors who enjoyed the giddy heights of share price performance last year must now decide whether to put more money in or take profits as the market slides sideways - if that is what is now happening.