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Schroders’ funds under management hit 20bn

Schroders expanded its business more than any other major fund company last year, increasing its retail funds under management by almost half to 19.8bn.

The UK fund industry review 2005 shows that Schroders increased funds under management by 49 per cent, from 13.3bn to 19.8bn.

Its nearest rival among firms with over 10bn under management was Halifax which saw funds under management rise by 23 per cent from 8.3bn to 10.2bn. Invesco had the third-biggest increase of the big fund managers, increasing funds under management by 20 per cent from 11.5bn to 13.8bn.

Among the smaller firms, third-party administrator Cap- ita had a strong year, increasing funds under management by 212 per cent to 8bn and becoming the eighth-biggest UK fund manager by market share, having previously been 27th. Investec’s funds under management rose by 192 per cent from 981.3m to 1.9bn. SVM saw the biggest increase with a rise of 302 per cent from 11m to 46m.

The FTSE All-share index rose by 12.8 per cent. Best-Invest business development manager Justin Modray says that any firm growing assets by less than this figure moved backwards in real terms.

Fidelity, the biggest firm in volume terms, came 50th out of 80 in terms of asset growth with a 14.5 per cent increase to 25.2bn. Liontrust increased its assets under management by just 8.4 per cent to 2.2bn while Henderson Global Inv-estors, Merrill Lynch Investment Managers and Stand- ard Life Investments suffered net outflows.

Modray says: “Fidelity has had a pretty poor year in real terms while firms such as Prudential, Lazard, Liontrust and Baring are actually moving backwards. The asset management firms that have done best all have one real star fund. Apart from Anthony Bolton’s special situations fund, Fid- elity does not have any one fund that has really been hitting the limelight.”

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