Legal & General is the largest manager of UK pension funds, according to a survey of investment managers, published today by Hymans Robertson, a firm of consultants and actuaries.
The “Big 50” survey, which provides an overview of the 50 largest managers of UK pension funds, shows that L&G retained the top slot for the second successive year while Barclays Global Investors moved up one place to second, displacing Merrill Lynch who dropped to third.
The survey – now in its 17th year – also shows that US Institutions have made significant inroads into the market place. Goldman Sachs entered the ‘Top 10’ at No 7 while State Street entered at No 8 as a result of the purchase of Gartmore’s passive business. Capital International and Fidelity, while outside the “Top 10”, have also made significant gains. In addition the Hyman Robertson’s survey provides profiles of a further 19 significant other firms active in the UK pension fund market. Information on corporate structure and the products offered to the UK pension fund market are also provided on each manager. Details of professional resource, key people and funds under management add flesh to this picture.
The commentary is Hymans Robertson’s qualitative assessment of the manager, its core products and general prospects.
Clare Gardner, Co-Head of Hymans Robertson’s Manager Research said: “The latest positions reflect the increasing profile of passive managers within the market place. US Institutions are also making significant in-roads into the UK pension fund arena.”