As if on cue…

Further to my earlier post about the decline of traditional fund management, from Sunday’s FTfm (sub):

Fund universe contraction accelerates
by Ruth Sullivan

The rate of contraction of the sprawling European fund industry accelerated in the first six months of 2012, when 1,620 funds closed or merged, well ahead of the 1,104 launches, according to Lipper.

This net reduction of 516 funds already surpasses the full-year total for 2011, when 3,564 vehicles closed or merged and 3,211 launched, a net decrease of 353…Further contraction is expected this year…

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