Fund managers in demand

FUND manager recruitment is on the rise as investors look to take advantage of new opportunities in battered markets, research published yesterday revealed.

Last year management consultancy group Mercer advised on 826 fund manager searches globally, marking a 22 per cent rise on 2008 when they only advised on 676 searches.

Mercer said the numbers meant that over $4bn (£2.6bn) in additional assets were placed by investors in 2009, bringing the total number to $97.2bn.

The rise can be attributed to a greater appetite for investing in opportunities in dislocated markets and lower valuation of corporate bonds, said Mercer.

Global equity searches dominated the market, with 191 searches, while requests for fixed income and real estate managers climbed to 92 and 67 searches respectively during the year.

Searches for UK fund managers crept back to pre-credit crisis levels, according to Mercer, as the total number of assets placed in 2009 reached $41.9bn from $26.1bn in 2008.

“We do sense a greater investor appetite for taking advantage of dislocation and low valuations than in previous market down-turns,” said Andy Barber, global head of manager research at Mercer.