Follow Us

Follow us on Twitter  Follow us on LinkedIn

10 April 2018

Financial Times: UK asset managers oversee record £2.6tn for overseas clients

Default: Change to:

Asset managers in the UK oversee a record £2.6tn of assets for overseas clients, according to new research that highlights the level of cash at risk from a disorderly Brexit.

The survey from TheCityUK, a finance trade body, found that 37 per cent of the £8.1tn in assets under management in the UK belongs to clients from outside Britain. In 2015, asset managers oversaw £2.2tn for overseas clients.

Anjalika Bardalai, chief economist and head of research at TheCityUK, said the UK fund industry was a world leader at managing overseas assets, but Brexit could put its position at risk.

“To maintain London and the UK as a global centre for asset management, it is vital that an ambitious and pragmatic Brexit deal is secured,” she warned.

“Of the overseas funds managed in the UK, roughly half come from EEA countries, with the rest predominantly from the US and Asia,” she said. “A low-access Brexit could risk undermining the competitive offering that has made the UK the world’s — and especially Europe’s — leading international fund management centre.”

The survey found that the UK dominates the European asset management industry, growing at a faster pace than the sector globally. But there are widespread concerns about the impact of Brexit on asset management, with fears that the sector might be the most exposed part of the City after Brexit. [...]

Full article on Financial Times (subscription required)

TheCityUK report

© Financial Times

< Next Previous >
 Hover over the blue highlighted text to view the acronym meaning
Hover over these icons for more information

Add new comment