UK AUM up 10% to £3.8trn

International Financial Services London’s (IFSL) 2007 fund management report showed UK assets under management climbed for the fourth consecutive year, due to "strong economic growth and rising equity markets”. The UK was easily the largest market in Europe and continues to be the leading international fund management base, with about 30% of FUM coming from overseas. UK institutional funds accounted for two-thirds of FUM with about 17% in retail funds, 11% in alternative funds and 10% from private clients. Fund management generated £12bn revenue and employed over 50,000 people in 2006, a...