A violent correction across global markets battered investment managers last week as the rapid spread of coronavirus caused severe disruption to business activity worldwide.
Asset managers suffered accelerating fund outflows, hefty share price falls and operational challenges to their client-facing work as companies banned travel to the countries worst hit by the virus.
Share prices of asset management companies were hammered, with FTSE 100 group M&G down nearly a fifth over the last week, with Standard Life Aberdeen and Schroders off about 15 per cent.
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