UK Tracker Funds and Passive Fund Management - The Revolution in Fund Management

Published by: Business Insights

Published: Feb. 1, 1999 - 130 Pages

Table of Contents

• 1.1 Aims, Scope, Methodology And Definitions
  
  • Aims
    
  • Scope and methodology
    
  • Scenario-based forecasts

• 1.2 History and Theory of Trackers and Passive
  Fund management
  
  • History and theory of trackers
    
  • Advantages of tracker funds
    
  • The dangers of tracker funds
    
  • Types of tracker funds

2.0 Market Overview

• 2.1 Funds Under Management
  
  • Retail and institutional index funds under management
    
  • Retail gross sales

• 2.2 The Retail Tracker Fund Market
  
  • Leading providers of tracker funds
    
  • Leading tracker funds

3.0 Key Issues

• 3.1 The Minimum Funding Requirement
  
  • Pensions Act and the MFR
    
  • Likely implications of the MFR
    
  • Defined contribution schemes should encourage indexing
  
  
  
• 3.2 Charges
  
• 3.3 Disadvantages Of Trackers In A Bear Market
  
• 3.4 Effects Of Too Much Investment In Index Trackers
  
• 3.5 Underperformance Of Active Fund Management
  
• 3.6 New Entrants Into The Market
  
• 3.7 The Target Customer
  
• 3.8 Tracker Funds And The Cat Standard
  
  • Recent policy changes for Trackers
  
  
  
• 3.9 The impact of Emu

4.0 Competitive Analysis

• 4.1 Performance Of Retail Tracker Funds
  
• 4.2 Charges For Tracker Funds
  
  • Pricing structure of active and passive funds
  
  
  
• 4.3 Comparison of Performance and Charges among Active and
  Passive fund managers
  
  • Performance of leading trackers over 6 months
    
  • Performance of leading trackers over 1 year
    
  • Performance of leading trackers over 3 years
    
  • Performance of all trackers over 5 years

5.0 Scenarios

• 5.1 Driving Forces Worldwide In The Next Two Decades
  
  • Social and demographic forces
    
  • Technological forces
    
  • Political and economic forces
    
  • Environmental drivers
  
  
  
• 5.2 Driving Forces In The Uk
  
  • Social drivers
    
  • Political drivers
    
  • Economic drivers
    
  • Technological drivers
    
  • Political drivers
  
  
  
• 5.3 Predetermined Elements
  
  • Charges are lower among passively managed funds
    
  • Strong brands will become more prevalent in the retail tracker fund market.
    
  • Historically, the average performance of passively managed funds has outstripped actively managed
    funds
  
  
  
• 5.4 Critical Uncertainties
  
  • The economy
    
  • The success of government initiatives
  
  
  
• 5.5 Scenarios For Passive Fund Management In 2004
  
  • Scenario 1: stagnation
    
  • Scenario 2: fluctuation
    
  • Scenario 3: 'Growth'
  
  
  
• 5.6 Datamonitor Summary And Conclusions
  
  • Index funds under management

List of Tables

• Table 1: Retail and institutional index funds under management, 1998-9
  
• Table 2: Institutional funds under management, 1998-9
  
• Table 3: Gross sales of retail tracker funds, 1992-9
  
• Table 4: Performance of active and passive funds over 5 years
  
• Table 5: Providers of unit trust trackers, September 1998
  
• Table 6: Fund value of leading tracker funds, September 1998
  
• Table 7: Providers of investment trust trackers, September 1998
  
• Table 8: Performance of tracker funds, December 1998
  
• Table 9: Tracker fund charges, December 1998
  
• Table 10: Average charges among leading active and passive fund managers
  
• Table 11: Charges among leading passive fund managers
  
• Table 12: Charges among leading active fund managers
  
• Table 13: Active versus passive comparison of performance and charges
  
• Table 14: Active versus passive comparison of performance and charges (annual
  management charge)
  
• Table 15: Retail versus active funds of leading providers
  
• Table 16: Performance of leading tracker providers over 6 months
  
• Table 17: Performance of leading trackers over 1 year
  
• Table 18: Performance of leading trackers over 3 years
  
• Table 19: Performance of trackers over 5 years
  
• Table 20: Personal disposable income, 1993-9e
  
• Table 21: UK population projections, 1996-2036
  
• Table 22: On-line banking customers, 1997-2001
  
• Table 23: PC and Internet banking in the UK, 1997-2001
  
• Table 24: Funds under management for 3 scenarios
  
• Table 25: Retail funds under management for 3 scenarios
  
• Table 26: Institutional funds under management

Abstract

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