HSBC duo: We are in the foothills of an industry step-change for active managers

Want to partner advisers on robo-advice

Katrina Lloyd talks to HSBC Global Asset Management (UK) CEO Andy Clark and head of UK wholesale Dan Rudd about their response to the FCA's Asset Management Market Study, the rise of passives, and partnering advisers on robo-advice.

Andy Clark and Dan Rudd have a privileged vantage point from which to observe the evolution of the UK asset management industry and advisory sector.  Unlike many providers struggling to cope with the rapid rise of passive products, the group's OEIC AUM is now split 39%/61% between index trackers and active vehicles; a rapid rise from around 18%/82% in 2010. So what was their reaction to the FCA's recent Asset Management Market Study, which was extremely critical of active managers and pushed the attractions of passive counterparts? In particular, Clark notes the issue of value for ...