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Investment call for action to avoid crisis

The UK&#39s fund management industry faces a bleak future unless it adapts quickly to the needs of the global market, according to the Fund Managers&#39 Association.


A new FMA report reveals half of the 77 asset managers that control nearly 90 per cent of the funds under management in Britain, are staffed by executives who have a “notable gap” in their strategic thinking skills.


The warning comes as Schroders prepares to stand solo among the top pension fund managers as a UK-owned independent without any links with global banks.


FMA deputy chairman and Prudential Portfolio Managers chairman Derek Higgs says: “Managing brands, developing leaders and leveraging talent were critical subjects for the industry.”

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