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“Today the UK remains a member of the EU and the rules and regulations governing asset management remain unchanged, and the protections that were in place for clients yesterday remain in place today.
“The focus in the short-term will be on how markets respond, but it is important that we adopt a collective long-term focus on how the UK can preserve the pre-eminence of its financial services sector including our highly successful £5.5trn asset management industry - the second largest industry of its kind in the world.
“How the UK’s role in the EU will change will become clearer over time, but there are likely to be challenges ahead and we look forward to helping the Government and our industry to navigate these.
“The Investment Association is confident our industry will be able to continue to compete overseas, both in the EU and the rest of the world. Our objective remains to play a positive role within the UK economy as a source of funding for companies, a major contributor to export earnings and as a centre of investment excellence that serves both domestic and overseas clients successfully.”