In November 2015, we published the Terms of Reference for our asset management market study. The aim of the study will be to understand whether competition is working effectively to enable investors to get value for money when purchasing asset management services.
Why are we carrying out this market study?
We announced our intention to undertake a market study into asset management in our 2015/16 business plan, following feedback received as part of our wholesale sector competition review, which raised a number of questions about competition along the asset management value chain.
Given the size of the market and the long-term nature of investments even a small improvement in the effectiveness of competition could be of substantial benefit for investors.
As part of our market study we will seek to understand:
- how asset managers compete to deliver value
- whether asset managers are willing and able to control costs and quality along the value chain
- how investment consultants affect compe