IMA unveils plans for one-stop-shop for UK funds

Speaking to Investment Week, IMA chief executive Daniel Godfrey explained the trade body’s plans to encourage overseas fund managers to base themselves in London, rather than Dublin or Luxembourg. The initiative follows Chancellor George Osborne’s announcement in the Budget of a “targeted package of measures” to enhance the attractiveness of the UK for asset managers. The centrepiece of this was the scrapping of the Schedule 19 charge on funds – a tax often cited as the leading deterrent to setting up a fund in the UK. “The UK is the leading centre for asset management in Europe, but ...