UK investment management industry remains international leader despite fall in AUM
Alongside the £4.6trn managed for UK retail and institutional investors, a further £4.2trn is managed on behalf of overseas investors.
The fall in AUM can be attributed to the turbulence of last year; political and economic uncertainty owing to the Ukraine war, rising inflation leading to a cost-of-living crisis, multiple changes at the top of British politics and the markets experiencing an unusual correlation in the direction of travel for both global equities and bonds.
Despite this, the UK investment management industry retained its leading international position. Alongside the £4.6trn managed for UK retail and institutional investors, a further £4.2trn is managed on behalf of overseas investors.
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Of that £4.2trn, 56% is managed on behalf of European customers, 20% on behalf of North American customers and 16% on behalf of Asian customers.
Chris Cummings, chief executive of the IA, said: «2022 saw a perfect storm of unprecedented events which impacted UK households and the economy. The investment management industry, like many others, was affected and we saw a significant fall in assets under management, reflecting the challenging economic environment.
»Despite the turbulent conditions, investment managers have first and foremost, continued to provide for their clients, helping households across the UK meet their long-term financial goals. The UK investment management industry also remains a global success story, with our products and services highly valued by customers around the world.
«However, these difficult conditions are set to continue for the foreseeable future, and it is crucial that our industry works together with
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