The provision of investment management services is an important industry in the United Kingdom but one about which only limited information is available from published sources. Earlier this year, the Bank carried out a survey of the investment management business conducted in the United Kingdom on behalf of both UK and overseas residents. Among the main points to emerge are the following:
- At the end of 1984, the firms surveyed managed funds totalling over £100 billion on behalf of UK residents and around £30 billion for overseas residents. In addition, they provided advice on a regular basis on portfolios totalling almost £50 billion for UK residents and over £5 billion for overseas residents.
- The accepting houses were by far the most active group of investment managers, while pension funds were the most important UK clients.
- About half the funds managed for UK residents took the form of UK equities; around one quarter were invested in foreign assets.
- Almost three quarters of the funds managed for overseas residents were invested in foreign assets.
Investment management in the United Kingdom