Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

UK fund assets flatline at £7.7 trillion in 2018 - report

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/13/2019 | 02:52am EDT
FILE PHOTO: People walk through the Canary Wharf financial district of London

LONDON (Reuters) - UK fund assets totalled 7.7 trillion pounds in 2018, steady from the previous year but failing to rise for the first time since 2008 due to political and market uncertainty, the sector's leading trade body said on Thursday.

Britain's fund management sector is second only to that of the United States and is larger than those in France, Germany and Switzerland combined, with 40% of assets managed for international clients, the Investment Association (IA) said.

Assets have been growing in the past 10 years. They got an added boost from changes to the British pension regime in 2015, which gave savers more choice about what to do with their pension funds.

Assets managed for institutional and retail investors hit a record high in 2017, but concern around issues such as Brexit and U.S.-China trade tensions have crimped further gains, according to the IA report.

"Against economic and political headwinds, the UK investment management industry has been resilient," IA Chief Executive Chris Cummings said.

UK retail fund assets fell by 6.6% in 2018 to 1.15 trillion pounds, the first drop since 2011, ahead of Britain's anticipated departure from the European Union.

The report details assets managed by IA members. Assets managed by the broader investment management industry totalled 9.1 trillion pounds, also unchanged from 2017, the trade body said.

($1 = 0.8102 pounds)

(Reporting by Carolyn Cohn; Editing by Dan Grebler)

Stocks mentioned in the article
ChangeLast1st jan.
EURO / BRITISH POUND (EUR/GBP) -0.34% 0.88267 Delayed Quote.-1.50%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
01:26pN.Y. State Retirement Fund Reaches Climate Deals With 11 Companies
DJ
01:23pShares of Ping Identity jump 25% in U.S. market debut
RE
01:17p'Show me the money'; dollar-hungry businesses squeezed in Lebanon
RE
01:16pNEWS HIGHLIGHTS : Top Company News of the Day
DJ
01:16pNEWS HIGHLIGHTS : Top Global Markets News of the Day
DJ
01:07pWTO WORLD TRADE ORGANIZATION : Public Forum programme is now available
PU
01:03pMARKET SNAPSHOT: Stocks Edge Up As Wall Street Weighs Upbeat Data After Fed Rate Cut
DJ
12:57pJON TESTER : Tester Secures Nearly $165,000 to Research Hemp and Establish Canadian Hemp Markets
PU
12:50pShares rise after Fed cut, oil prices jump
RE
12:44pOil prices rise as Saudi supply risks come into focus
RE
Latest news "Economy & Forex"