It’s an exciting time for the UK financial services industry — and the new report by UK Trade & Investment (UKTI) proves it! UKTI recently released a comprehensive report on the state of fund management in the UK from 2013 into 2014. At the end of 2013, UK fund assets hit a record £6.2 trillion. Approximately £2.2 trillion, over one third of the 2013 total, came from foreign investment, according TheCityUK, a well-known financial services lobbying group.
TheCityUK’s chief executive, Chris Cummings said “The UK is one of the leading international centers for fund management and by far the largest European centre. The fund management sector is also one that consistently generates a significant trade surplus for the UK economy.”
Key figures in the UK fund management industry report include:
- 35% of European assets under management are managed in the UK
- 4% of hedge fund institutional capital invested worldwide comes from London
- £770 billion is managed in UK-authorised funds (OEICs and unit trusts)