River & Mercantile retains 90% of fiduciary assets following CMA review

Reports strong wholesale inflows

River & Mercantile Group has managed to retain 90% of relevant assets under management (AUM), following a review by the Competition and Markets Authority (CMA) that has caused a shake-up of the fiduciary industry.

In its latest results for the 12 months to 30 June, the group said it had "fared well in an unprecedented period for the fiduciary industry", with every fiduciary mandate in the UK needing to be retendered following a review that concluded on 9 June. Apart from retaining existing contracts, R&M said it had won £1.2bn of new mandates in the space during the year. "Since the beginning of the retendering process, we have retained 90% of relevant AUM and, in addition, over the last year we have won 12 new clients, delivering a combined £4.9bn of assets that have transitioned or are in the...