Investing June 5, 2002

Top UK Managers Hurt in 2001

June 5, 2002 (PLANSPONSOR.com) - The top five investment managers of the UK's segregated pension funds saw the value of their businesses plummet in 2001, a survey by the Financial Times finds.
Reported by

The newspaper blames the decline on volatile markets and a trend that has seen pension funds move towards specialist managers.

According to the survey, between 2000 and 2001,

For more stories like this, sign up for the PLANSPONSOR NEWSDash daily newsletter.

  • the value of Merrill Lynch Investment Managers (MLIM)’s segregated pension business fell by 24.7% from £63.7 billion to £48 billion,
  • Schroders Investment Management saw its segregated pension fund business decline by 27.7% from £53.8 billion to £38.9 billion,
  • Deutsche Asset Management (DeAM) reported a decline of 7.9%,
  • Barclays Global Investors saw a drop off of 7.2%,
  • while the value of UBS Global Asset Management’s segregated pension business dropped by 12.2% from £26.9 billion to £23.6 billion.

On the other hand, according to the FT,

  • Boston-based State Street Global Advisors recorded a 145.7% increase in its pension fund business from  £4.4 billion to £10.8 billion,
  • while Legal & General upped its business by 99.2%, 
  • Capital International saw an increase of 24.2%, and 
  • Morley Fund Management increased its business by 23.4%

«