River & Mercantile Group has managed to retain 90% of relevant assets under management (AUM), following a review by the Competition and Markets Authority (CMA) that has caused a shake-up of the fiduciary industry.
In its latest results for the 12 months to 30 June, the group said it had "fared well in an unprecedented period for the fiduciary industry", with every fiduciary mandate in the UK needing to be retendered following a review that concluded on 9 June. Apart from retaining existing contracts, R&M said it had won £1.2bn of new mandates in the space during the year. "Since the beginning of the retendering process, we have retained 90% of relevant AUM and, in addition, over the last year we have won 12 new clients, delivering a combined £4.9bn of assets that have transitioned or are in the...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
