UK funds industry will see growth 'skyrocket', report predicts

The UK funds industry will see growth ‘skyrocket' in the coming years, but the balance of power in the industry could shift to smaller players, a new report has predicted.

The forecasts come in a joint paper by Fundscape and the Pridham Report, entitled the Definitive Guide to the UK Fund Industry 2015. It notes the UK's fund management sector is flourishing, despite concerns over the impact of the Retail Distribution Review (RDR), and is now the largest domestic market in Europe, with assets of £753bn. The report suggests a combination of low interest rates, the rising number of baby boomers, and pension freedoms which comes into force in April will help to fuel growth. Bella Caridade-Ferreira, CEO of Fundscape, said "UK fund industry assets will s...