UK Unveils Strategy For Asset Management
We are delighted to welcome the Government’s new, ambitious Investment Management Strategy. This strategy will give asset management firms a roadmap to success through Brexit & beyond @hmtreasury t.co/8Vk8tErD8u pic.twitter.com/81rPm7a1aO
— The Investment Association (@InvAssoc) December 6, 2017
The Investment Management Strategy II sets out the government’s long-term approach to enhancing the UK’s position as a centre for asset management.
The introduction of Asset Management Centres of Excellence – to train Britain’s next generation of investment management talent – and the enhanced use of Fintech within the asset management industry, are just some of the proposals outlined in the government’s Investment Management Strategy II, which is published today (6 December 2017).
To ensure that the UK continues to be a globally competitive centre for asset management, today the government set out its long-term approach for the Asset Management industry. The Strategy focuses on six areas for growth:
- strengthening the UK’s investment management talent pipeline, by supporting the industry to establish Asset Management Centres of Excellence at UK universities across the country
- making the most of the UK’s world-leading status in Fintech to develop innovative solutions such as a blockchain enabled digital fund
- working with international partners abroad to attract overseas firms to locate in the UK and promote UK firms overseas
promoting the UK’s competitive and stable tax and regulatory environment to facilitate innovation and growth within the industry, and consider in Spring 2018 whether to consult on making changes to the short-term business visitors rules
- enhancing government, regulator, and industry dialogue through the newly established Asset Management Taskforce
- providing the support that UK asset managers need to be global leaders in developing innovative investment strategies – such as green finance and social impact investing – to meet the changing investor demands
The Economic Secretary to the Treasury, Stephen Barclay, said:
“The UK is a world leader in asset management, and it is vital that we keep it that way. The new Strategy for the sector outlines how we will do this, and I look forward to working closely with the industry to fully realise it’s potential.
The Asset Management industry plays a pivotal role in the UK economy, fueling productivity and growth by linking long-term savings to firms in need of finance. It generates approximately 1% of the UK’s Gross Domestic Product and employs over 38,000 people across the nation.”
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