UK - Pension scheme shifts from balanced to specialist mandates underpinned Royal London Asset Management's strong second quarter performance.
The inflow of new institutional funds under management increased by £500m – nearly 60% – on the corresponding period last year.
RLAM chief executive Andrew Carter pointed out that research by Greenwich Associates found that the use of specialist managers by schemes had increased by 35% over the past five years.
And Carter believes the shift towards specialist managers is a positive one.He said: “It reflects an acceptance that management houses will excel in different areas, rather than similarly across all asset classes, which is common sense.
“At Royal London we have an excellent fixed interest team, whose distinctive story and even more distinctive results have attracted new clients to us.
“I think we have surprised many larger and better-known firms who felt we would prove to be ‘a flash in the pan’.”
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