Asset managers came back fighting in 2009 as assets rose 16% to US$62trn (€44.5trn), compared to a 23% loss the year before, with the large firms benefiting the most from the rebound. However, asset levels are still below those seen in 2006.
Global emerging market equity funds continued their strong run, posting over $2bn (€1.4bn) in inflows. US and European equity funds also saw positive flows.
Royal Bank of Canada is to acquire BlueBay Asset Management for around £965m (€1.1bn), subject to regulatory approval.
Amundi is launching its first Ucits III multi-manager absolute return fund to capture investment opportunity in the current low interest, highly volatile environment.
If only I had invested in an emerging markets fund instead! (Fiona Rintoul wishes she had looked elsewhere for her pension)
First this morning, allow me to bring you further news of my AXA Equity & Law pension fund - Fiona Rintoul reports (click here to reprise Part I)
