In Britain, such funds, locally known as unit trusts, have become a booming industry, thanks to a deep stockmarket and a modest social-security system.

ECONOMIST: A survey of fund management

Savers are deserting banks for more rewarding places to park their money, such as in mutual funds (unit trusts, in Britain) and insurance policies.

ECONOMIST: It��s got to fit somehow

Instead, they have decided to focus on profitable products, such as savings accounts, cards, unit trusts, mortgages and insurance.

ECONOMIST: Supermarket banking