Slim pickings for latecomers

The new member states of the European Union offer foreign fund managers a fast growing asset pool. However, the market has already been targeted by such firms as Allianz Dresdner. Is it too late for others to make an impression? The chance to shine may come when investors look outside their home markets.

THE COUNTRIES THAT joined the European Union at the beginning of this month are set to experience sizeable growth in both retail and institutional assets. It’s a mouthwatering prospect. A number of foreign fund managers have already positioned themselves to take advantage. Those that do not already have a presence or relationship with a domestic player are likely to find it difficult to participate, particularly in the pension fund market.

Even those with operations in these countries face medium-term restrictions.

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