Overseas domiciled funds saw a decline in assets under management (AUM) last month, but they fell by less than their UK-domiciled peers, according to the latest figures from the IMA.
AUM for overseas domiciled funds in October 2008 fell substantially to £15.3bn from £18.4bn twelve months ago. However, the loss seems less dramatic when measured against the AUM of UK-domiciled funds which plunged to £338.9bn this October from 481.2bn in October 2007. Overseas funds therefore realised a £3.1bn or 16.85% loss in AUM over the past 12 months, compared to UK funds, which plunged £142.3bn or 29.57% over the same period. Measured against last month's results, overseas funds under management shed 9%, while overseas ISA funds under management of £217m tumbled by 19% on the pre...
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