News & Views

Mallowstreet Article: Independent FM oversight remains the exception despite market growth

This article was published in Mallowstreet | September 26, 2022 By Sandra Wolf

The UK fiduciary management market has grown substantially both in number of funds and assets under management in the past five years, a new survey has found, but few schemes use independent oversight
As well as the market expanding by just over 70%, there has also been a 120% increase in the size of funds converting to fiduciary management, according to the latest Fiduciary Management Survey by FM oversight specialists IC Select.
IC Select’s head of research, Anne-Marie Gillon, said the Covid pandemic initially caused a slowdown in the number of schemes converting to fiduciary management. However, “it would appear that its longer-term impact has been to cause a number of schemes to reassess their investment governance approach so as to be better prepared and nimbler for future problems”, she said. This trend has been particularly noticeable at some larger schemes, Gillon added.

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