UK FUNDS UNDER MANAGEMENT UP 12% IN 2009 TO £4.1 TRILLION - CLOSE TO PRE-CRISIS PEAK
UK funds under management end 2009 just 1% short of record high from two years earlier.
Recovery continues into 2010 as inflow of new funds is sustained.
Global conventional investment management assets increase by 14% in 2009 to $71 trillion.
Assets under management of fund managers in the UK increased by 12% in 2009 to £4.1 trillion according to the annual Fund Management report by the TheCityUK: the new independent membership body promoting the UK financial and related professional services industry. The 2009 recovery resulted in assets under management closing in on highs reached at the outset of the credit crisis.
Strong investment performance and an inflow of new funds during the year, particularly from retail clients, contributed to the increase in funds in 2009. Early indicators for 2010 show that the industry has continued to recover, with a 6% gain in assets of UK domiciled retail funds in the first seven months of this year.
According to TheCityUK’s report, institutional funds make up two-thirds of UK funds under management. A further 17% comes from retail funds, 8% alternative funds and the remainder from private clients. Over a third of funds managed in the UK are from overseas clients.
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