During 2003, a further 13 firms from across Europe – Finland, France, Germany, Switzerland and the UK – signed up to use the Russell/Mellon CAPS AMI database service.
This brought the total number of asset managers using AMI to 114, with total assets under management in excess of 1 trillion. In addition, there are a number of US asset managers currently trialling AMI. Therefore it is expected that the rate of increase in users will rise throughout 2004.
“AMI is designed to showcase asset manager firms’ products and processes,” says Mick Brant, Russell/Mellon CAPS’ Chief Executive Officer. “It provides a ‘one-stop-shop’ for investment consultants to access the key information they require in order to advise their clients on asset manager selection. We have seen substantial growth in new users of this product over the last year and look forward to continued business success.”
Currently, a total of 30 investment consultants subscribe to AMI, 18 in the UK and the remainder overseas.