The UK's fund management sector was responsible for a record £5.4trn in assets under management by the end of 2012, with more than a third of funds originating from overseas clients.
Research from TheCityUK found that approximately £2trn in funds under management in the UK came from overseas clients in 2012 while overseas firms were managing more than half of all UK-based funds. The strength of the sector meant that UK retained its position as the second largest source of funds under management in the world in 2012, representing 8.3% of the global market and coming ahead of Japan with 7.5%. TheCityUK chief executive Chris Cummings said: "The UK is one of the most open markets in the world for fund management. "UK firms are also well positioned to gain new inter...
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