Investment managers' optimism about their business prospects rose for the third consecutive quarter, despite difficult conditions for the financial services sector, according to the latest survey from the CBI/PwC.
The Financial Services Survey, which was conducted in September, found growth in the volume of business for investment managers was a little slow over the last quarter and concentrated with financial institutions. However, growth is expected to accelerate strongly during the next quarter and spread to private individuals. Value of incomes (from trading, interest and investments) grew marginally, and is predicted to be faster over the next three months, while profitability also rose for the third quarter in a row. This was helped by falling costs, and rising fees and commissions. Although...
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