According to Gretel's proprietary data, around £89bn has so far been lost on all types of financial products in the UK, of which £2.8bn lies in the investment and wealth funds sector.
Jupiter Asset Management and Janus Henderson Investors have partnered with online service Gretel to help clients recover their lost or forgotten investments, including ISAs, investment trusts and OEICs.
According to proprietary data from Gretel, around £89bn has so far been lost on all types of financial products in the UK, of which £2.8bn lies in the investment and wealth funds sector.
The company has calculated the total number of individuals with lost or forgotten investments to be at least one million.
Duncan Stevens, CEO of Gretel, called the number of lost and forgotten assets in the UK "staggering", adding that "it is our mission to ensure that these funds find their way back to their rightful owners".
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"Our partnership with Jupiter and Janus Henderson marks a significant milestone in our efforts to lead the industry in reconnecting consumers with their lost wealth," Stevens said.
Gretel's research also found that 26% of UK adults think they may own investments or stocks and shares of which they are unaware or have not considered, with similar trends spotted across pensions, bank accounts, savings, life insurance, and child trust funds.
According to a separate survey conducted by the strategic insight agency Opinium, if customers reconnected with lost and forgotten investments, 15% argued they would use the money for day-to-day living costs, while 13% would pay off their debts.
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Another quarter (25%) of respondents would consolidate them into other accounts and 12% would transfer them to a new account.
Jasveer Singh, general counsel at Jupiter AM, said the partnership with Gretel "not only benefits individuals but also reinforces the integrity and trust in our industry".
Alex Wheeler, head of transfer agency, EMEA, at Janus Henderson, noted that the partnership with Gretel will enable the firm to "take proactive steps to help customers recover forgotten assets and ensure their investments are working for them".
