, Columnist
Money Managers Are Losing Faith in Money Managers
The value destruction being inflicted on Britain’s funds industry is getting spectacular.
A cloud hangs over London.
Photographer: Matthew LloydThis article is for subscribers only.
A bad year for Britain’s fund managers has taken a turn for the worse, with lackluster asset growth prompting investors to look askance at the outlook for money management. And it’s getting increasingly hard to see what, if anything, could stop the rot.
The value destruction being inflicted on the industry is getting spectacular. Those losses in market value compare with a decline this year of less than 10 percent for the wider U.K. stock market, as measured by the FTSE 350 index.