News & Views

Pensions Expert Article: Covid-hit fiduciary management market gains 70% in 5 years

This article was published in Pensions Expert | September 21, 2022 By Benjamin Mercer

Although the UK fiduciary management market has risen by 11 per cent a year over the past five years, its growth is still below the previous period’s figures, with Covid-19 having an impact on selection processes in 2021, according to a survey by IC Select.

The fiduciary market grew 73 per cent by number of clients and 71 per cent for assets under management over the past five years, producing the 11 per cent annualised growth rate.

IC Select’s survey, which polled 14 fiduciary managers leading up to December 2021, showed that these figures represent a marked slowdown on pre-2016 levels, when the number of funds grew by 27 per cent a year.

The report, published on September 21, also showed that few schemes are commissioning independent oversight, despite attempts by the Pensions Regulator to encourage greater take-up.

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