Fund managers live in fear of the 'squeezed middle'

Over the past couple of years, the landscape of the wealth management sector has evolved markedly.

A surge of M&A activity has eliminated a number of smaller players in the space, as wealth managers look to make their mark and grow market share in the post-RDR environment. Meanwhile, M&A activity in the UK fund management universe has been less prevalent. The fact there are still over 100 IMA member firms may come as a surprise to many. For years investment commentators have suggested the UK fund management industry is in dire need of consolidation, while fund buyers often complain there are too many sub-par active funds which are failing to deliver alpha. We may only be six mon...