Deutsche Asset Management (DeAM) has romped home as winner of the largest amount of active institutional business in the UK, Europe's largest and most mature pension fund market.

The asset management arm of Deutsche Bank won £10bn (€16.6bn) in new mandates in 2000, according to research by Financial News. This put it on the same level as Legal & General, the passive fund manager owned by the UK life assurance company. Even after stripping out the £5bn that DeAM won as a result of buying business from Prudential, DeAM was still a net £1bn ahead of Henderson Investors' £4bn.