UK – Bullish expectations mean employment numbers across the fund management industry look set to increase even further in the next quarter, according to the CBI and PricewaterhouseCoopers quarterly Financial Services Survey.
Staff levels increased throughout 2005, said the report.
According to PWC partner Pars Purewal, this was linked to, amongst others, a relatively buoyant market and the provision of hedge funds, private equity funds and real estate funds, which weren’t always offered in the past.
He added that the increased burden of regulation also contributed towards the increase in numbers employed.
But over the next year, staff levels might come to be regarded as a severe constraint.
“The two most significant constraints to business prospects over the next twelve months are competition and the availability of professional staff,” said the Survey.
Overall, the fund management industry was “universally optimistic” said Purewal.
The Survey confirmed this, showing that business volumes grew significantly, along with increasing income via fees, commission and premium income.
“Profits grew rapidly in the last quarter, due to excellent growth in demand and income. There was a big increase in optimism as a result,” said the report.