What is the market like for
fiduciary management in the UK?
Fiduciary Management for UK Pension Schemes
The fiduciary management market in the UK is growing rapidly with new entrants coming to the market regularly. There are currently over 15 firms providing fiduciary management services in the UK and Ireland (although our research suggests that the bulk of the concentration in assets under management are less than 10 of these firms).
A strong market has existed in the Netherlands for many years and a number of the current players in the UK market have a Dutch heritage.
We can broadly categorise the firms offering fiduciary management services into the following backgrounds:
- Stand-alone fiduciary management firms (often originally from the Netherlands)
- Benefit consultancies
- Manager of managers
- Fund managers
- Investment banks
In addition to coming from different backgrounds our research has shown that there are significant differences between their offerings in terms of:
- Approach to portfolio construction
- Resources dedicated to fiduciary management
- Internal infrastructure
- Market segment focus