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Tough at the top. (Mercury Asset Management)
The Economist (US)
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August 8, 1992
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COPYRIGHT 1992 Economist Newspaper Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.
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WHAT can be wrong with a market leader which has gained market share? In the five years since S.G. Warburg floated 25% of Mercury Asset Management, the firm has doubled its funds under management and almost tripled its profits. At the end of last year it was responsible for 19% (meaning [Pounds]28 billion, or $51 billion) of Britain's pension money, not counting the funds managed internally by companies or placed in collective accounts. Just recently, however, some of the firm's rivals have started to cheer up.
One reason is that last month it was announced that ...
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