Fund managers and banks produced some of the highest-performing share prices of last year, beating the return from many of the investment funds they manage.
Figures compiled by res earch company Datastream reveal three fund managers were within the top 15 performing shares of 2000.
Aberdeen Asset Manage ment was the fourth-best-performing share in the UK, behind three biotech companies. Its share price rose by 126.76 per cent. Aberdeen's shares outperformed all its managed funds for the year.
Amvescap, the owner of Invesco and Perpetual, was the 10th-best-performing share of the year, up by 90.48 per cent. While Friends Ivory & Sime was ranked 11th, after growing 87.75 per cent. Both share prices outperformed all of the companies' funds.
Sixteen FTSE-100-listed financial services firms beat the index, including Schr oders, Abbey National, Old Mutual and Prudential. The index was down by 8.64 per cent for the year.
Plan Invest joint managing director Michael Owen says: “Fund management firms have performed well for many years. If you had bought something like Perpetual in the 80s, you would have made a lot of money by now.
“The fund management industry is a boom business. We have had a bull market for many years. But as well as the advantage of being in a strong environment, it has been aided by vast numbers of mergers and takeovers. There are now only a number of independent fund managers left in the UK.”