The insider.

This article presents information about the business activity of England-based S.G. Warburg & Co. Ltd. It is informed that S.G. Warburg is the only British merchant bank with permission to operate in Japan. It is Great Britain's biggest pension fund manager and runs about $7 billion domestic and international, which accounts for about 18% of its earnings. In the fiscal year ended March 31, 1984, S.G. Warburg reported after-tax earnings of £20.8 million for a respectable 15% return on shareholders' equity.