The UK Master Trust Equity Story

The UK Master Trust Equity Story

With growing allocations of private capital into the long-term savings market, small independent Master Trusts offer an opportunity to private equity investors. The equity story NMG has identified six key factors that underpin the equity story with small...
ESG is here to stay

ESG is here to stay

Long an institutional focus, ESG is rapidly gaining ground amongst retail advisers helped by regulatory change but also rising consumer demand and product availability. Managers are responding, but as ever it’s a nuanced market. Three years ago, it was difficult to...
Sizing the DB transfer market

Sizing the DB transfer market

The DB transfer market has been a key new source of retail flows in recent years but is under considerable regulatory pressure. Although run rates are well off their peak, underlying dynamics mean that DB transfers should continue to play an important role in new...
UK wealth value chain is gradually contracting

UK wealth value chain is gradually contracting

Total fees paid by consumers have appeared stuck at ~200bps despite many changes in the industry in recent years. However, NMG data shows that prices in all key components of the value chain are falling. The UK wealth industry value chain has been resilient over the...