TAILIEUCHUNG - ASSET MANAGEMENT IN THE UK 2011-2012: THE IMA ANNUAL SURVEY

In addition, the modified IA report contains a clearer description of the key features that distinguish a social investment funds from the wider category of alternative investment funds. In line with the IABs request, the report clarifies that the essential features of a social investment fund are linked to the social undertakings it targets, the composition of its portfolio (at least 70% of investor capital invested in qualifying target undertakings) and the investment tools it employs (equity, quasi-equity, debt instruments but no leverage). In analogy to the approach taken in relation to venture capital funds, the. | Asset Management in the UK 2011 -2012 The IMA Annual Survey Investment Management Association 65 Kingsway London WC2B 6TD United Kingdom Tel 44 0 20 7831 0898 Fax 44 0 20 7831 9975 September 2012 Investment Management Association 2012 . All rights reserved. No reproduction without permission of the IMA. Contents Contents About the Survey 6 Survey Foreword 7 Key Statistics 10 PART ONE UK INDUSTRY 11 1. Industry Overview 13 Key Findings 13 Total Assets under Management 14 Scottish Business 15 Wider Industry 15 Client Type 16 Historic evolution 17 Type of Management 18 Asset Allocation 19 Geographic Split 21 Difficult Market Conditions 23 Client Needs and Industry Operating Environment 25 Pension funds 25 Insurance clients 26 Retail behaviour 27 Regulatory and political pressures 27 Complex operating environment 28 2. UK Institutional Market 29 Key Findings 29 Market Overview 30 Pensions 31 Insurance 31 Further client categories 32 Third Party Institutional Market 32 Mandate breakdown 33 Specialist mandates 34 Geographic allocation 35 Natural Buyers of Equities 37 Active vs Passive 40 Segregated vs Pooled 40 A Year of Pension Reform 41 DC can deliver but support for individual savers is needed 42 Stability is essential for building confidence 42 Good outcomes require the right policy framework 43 Investment communication must evolve 43 3. UK Fund Market 44 Key Findings 44 Total Funds under Management 46 Flows vs performance 47 Asset mix .

• Quỹ đầu tư
• Bureau leaders
• responsibilities and expected
• functional champions
• these—simple
• complicated
• complex
• chaotic—require
• organizational alignment
• programmatic alignment
• specific components