Consultancy firm William M Mercer has announced record levels of activity last year with Europe experiencing the strongest growth.
The total value of assets at $61.5bn up 18% from $52.1bn in 1999 with the split of assets placed by location of client was 54% in Europe, 34% in Americas and 12% in Asia/Pacific.
William Mercer global head of manager research Bill Muysken said: “The key driver of this trend is the accelerating rate of migration from balanced management to specialist management structures across Europe, and particularly in the UK. It looks like the days of conventional balanced management are numbered.”
Investment manager searches totalled 800, up 4% from 769 the previous year and some of the largest searches that Mercer advised on during 2000 were for the UK Post Office pension plan. Mercer’s head of investment consulting practice said: “We were delighted to be awarded this major assignment, which allowed us to draw on our global resources.”
By Alistair Graham
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