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The Actuary The magazine of the Institute & Faculty of Actuaries

Credit crisis sees fiduciary assets surpass €760bn

The UK credit crisis resulted in a surge of fiduciary management appointments across Europe, according to a recent study by Spence Johnson, provider of institutional investment research.

Assets managed by fiduciary managers in Europe passed €760bn at the beginning of 2011, while 2010 saw the fastest rise in new appointments to date.

The research tracked and collected information from 29 fiduciary management providers across Europe, representing 517 institutional investors with collective assets under management of €761bn.

Nigel Birch, director at Spence Johnson, said: "As more schemes begin to explore this model, and fiduciary management gains traction in wider European markets, growth forecasts will inevitably continue to grow.

"Fiduciary management continues to be a topic that generates debate and disagreement, but the fact remains that more and more pension schemes are viewing it, at least in part, as a viable solution to the problems they face. With more and more players in the market, however, schemes must be mindful of how they are selecting their managers."