With individual investors around the world taking increased responsibility for their own retirement savings, the global mutual fund business is poised to explode, in the view of a company owning two solid names in the American mutual fund market.

"We believe there is a significant revolution going on in retirement and personal savings," said Michael Benson, chief executive officer of Invesco Global, the global arm of Amvescap PLC, parent of the Invesco and AIM Management fund families. The emphasis in retirement savings is shifting in country after country from government and corporate pensions to personal assets, Mr. Benson said. That, he said, has investors thinking more about performance, which will provide an opening around the world for foreign asset managers.

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