In an era when traditional stock-pickers are under intensifying pressure, San Mateo, California based Franklin agreed to buy Legg Mason to create a firm with a combined $1.5 trillion in assets” Bloomberg 18th Feb 2020.

“The investment manager Jupiter is to pay £370m to buy Merian Global Investors in a deal that will create the second largest retail asset management group in the UK. The enlarged group will have £65bn under management, but some analysts said they regarded the deal as an essentially merger of two struggling businesses” The Guardian 17th Feb 2020.

We at BAM expect this trend to continue as active managers come under the threat from the continued emergence of cheaper passive funds.