Fund supermarkets will account for at least 25 percent of annual net new inflows to British authorized funds by 2004, according to a report by Cerulli Associates of Boston.

The share could rise to as much as 35 percent or 40 percent, according to the report. Smaller fund supermarkets will not be able to compete with larger ones and so two to four fund supermarkets will account for 90 percent of supermarket retail fund assets in the U.K., according to the report.

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