Overseas fund management firms target UK space - TheCityUK

Around 50 groups expressed an interest

The UK's funds under management has grown 60% above the pre-crisis peak and continues to grow, leading to around 50 companies expressing an interest in laying out operations here.

According to a report from TheCityUK, a body representing UK-based financial and related professional services industry, UK assets under management reached £6.8trn at the end of 2014 and estimated to have reached £7.1trn by mid-2015, an increase of 4% to 5%. The amount of funds run on behalf of international clients has also jumped 14% since 2013, reaching £2.5trn at the end of 2014. This has led to an increase in the number of overseas firms making plans to break into the UK market. Chris Cummings, chief executive of TheCityUK, said: "The UK fund management industry is diverse and...