At the same time as the professional manager
is grappling with major challenges, the
nature of ownership is also undergoing a fundamental fundamental
shift. With the increase of equitybased
retirement financing, with the development
of employee stock plans, and with the
privatisation of numerous large enterprises
around the world, the number of individuals
who own shares has grown approximately
tenfold to 250 million over the last 20 years (to
2002).