Chris Cummings, CEO of the Investment Association (IA), has urged the UK government to provide greater "predictability" to asset managers in efforts to maintain the sector's growing allocation to the country's infrastructure.
According to the IA's 2017-2018 edition of Asset Management in the UK report, which surveyed fund firms to identify industry trends, asset managers increased their allocation to UK infrastructure to £40bn in 2017 from £29bn a year earlier. The survey attributed this increase to growing demand for infrastructure from pension schemes and insurance companies, looking for "diverse sources of return, and returns that match the amounts they need to pay out". Cummings said: "What we need from government is predictability of the business environment - to make sure there are no policy or tax...
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