Finance: Merrill Lynch tops managers' table

Merrill Lynch is the most popular investment manager with top charities, according to research by the Charities Aid Foundation.

With 10 per cent of the market, the finance giant is at the top of the poll, which appears in CAF's annual Charity Trends publication, for the third consecutive year.

It currently manages £2.3bn of charity investments for 71 clients from CAF's sample of the top 700 fundraising charities and grant-makers. The average client fund that it manages is £33m, more than the sector average of £31m.

Cazenove, the Royal Family's investment manager, is in a distant second place, managing assets worth £1.2bn. It has 35 charity clients, representing 5 per cent of the market.

Deutsche Asset Management is in third place with £1.1bn of charity investments, which also amounts to a 5 per cent market share. It represents 15 top 700 charity clients and has an average client fund of £77m.

But Deutsche's position took a large hit last week, when it lost the mandate to run Charities Aid Foundation's two common investment funds, which handle nearly half a billion pounds of charitable investments.

In total, the 116 firms in the survey managed investments of £22.2bn.

Despite moderate growth on the stock market during 2004, this is a drop of 21 per cent in real terms from 2003.

KEY POINTS

- Merrill Lynch has been named most popular charity investment manager for the third year in a row

- The finance giant manages funds for 71 of the top 700 charities, according to a CAF survey

- This amounts to a total of £2.3bn of assets currently under its control

- Cazenove, which manages investments for the Royal Family, was second

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