Financial Times FT.com

Former ‘fringe players’ centre stage

By Joanna Chung

Published: October 3 2007 20:26 | Last updated: October 3 2007 20:26

International financial markets face a permanent shift in power from traditional money managers to opaque groups such as petrodollar investors, Asian central banks, hedge funds and private equity groups, according to a new study out on Thursday.

The unprecedented financial clout of these four “power brokers” is reflected in the size of the assets they already hold and the rapid growth they are expected to see in the next five years, says the study, published by McKinsey Global Institute.

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