Profits to slow for European fund managers

European assets under management will rise to E21tr by 2006 even as the industry prepares itself for slower profit growth, according to a report by financial services strategy consultants.

Oliver, Wyman & Company and UBS Warburg predict any growth in a ssets will not be seen immediately as the industry faces a period of markedly lower profitability with profits unlikely to return to 2001 levels until 2004.

The report, The Future of Asset Management in Europe ' Past Performance is No Guarantee of

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