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Article: Merrill Lynch top manager for charity investments.(News)(Charities Aid Foundation)(Merrill Lynch Investment Managers)(Brief Article)
- Article from:
- Money Marketing
- Article date:
- July 8, 2004
CopyrightCOPYRIGHT 2004 Centaur Communications Limited. 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. (Hide copyright information)
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The Charities Aid Foundation has published the 25th edition of Charity Trends and found Merrill Lynch to be top of the league for managing investments on behalf of the top UK charities.
In the period 2002-2003, Merrill Lynch managed 9 per cent of the 27.4bn [pounds sterling] handled by 110 investment managers. Gartmore Investment Management, managing 5 per cent, has the biggest average client fund at 340m [pounds sterling].
The report details the use of financial auditors and investment managers by the top 500 grant-making trusts and 500 fund-raisers.
PricewaterhouseCoopers and Deloitte & Touche are again the preferred auditors. ...