Specialist equity fund management companies increased their share prices the most in 2016 out of all listed asset managers, research shows.
Impax Asset Management, a UK specialist in the environmental investment sector, saw the largest increase, of 62.64%.
Klimek Advisors, an asset management advisory firm which carried out the research, said the reversal of interest rate policies weighed on fixed income managers and issues affecting all fund firms in 2016 included lower inflows, which contributed to asset managers’ share prices underperforming the wider equity market.
The top five managers by 2016 share price increases were:
- Impax Asset Management 63%
- ARA Asset Management 49%
- Liontrust Asset Management 42%
- Coronation Fund Managers 42%
- Record PLC 41%
Fixed income managers will have to demonstrate alpha as the rate reversal evolves into an “endurance test”, said Klimek in a report alongside its quarterly Global Asset Managers Index, which covers 61 pure-play firms.
“We expect competitive advantages for equity firms and absolute-return providers in the near future,” the report said.
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