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Asset management has a long-standing tradition in the UK and continues to be an important component of modern financial market activity. Although we know something about investment strategy in the fledgling asset management industry in the early part of the nineteenth century, we know surprisingly little about how practice within the industry has evolved. More specifically we know little about how investment performance, the emergence of modern financial theory, the riskiness of investments and major socio, economic, regulatory and political events have influenced the asset management industry in the long run.