New campaign launched to boost UK’s position as a world-leading investment management centre
The City of London Corporation, working in partnership with Department for International Trade and the Investment Association, are today (7 February) launching Global Investment Futures, a new campaign to preserve and promote the UK as a leading investment management centre globally.
The campaign, supported by KPMG, will build on the UK’s success in the investment management industry. The UK is the second largest investment management centre in the world, accounting for approximately 15% of global assets under management. £11tn of assets are managed for clients in the UK and internationally and a large number of overseas investors already operate offices in London and other cities.
The campaign will promote and highlight to global investors the factors that makes the UK a success in investment management and a trusted place to do business including:
· The concentrated network of asset managers across specialisms;
· an educated, talented, diverse and experienced workforce;
· digital infrastructure;
· internationally connected financial markets;
· its global leadership in fintech;
· its leadership in green finance;
· a time-zone that is central to the global business day.
Minister for Investment, Lord Grimstone, said:
"I have immense pride in our asset management industry which plays an integral role in making the UK one of the world’s leading financial centres.
"The sector has a remarkable £11 trillion of assets under management, employs more than 100 thousand people, and makes up 1% of the UK’s GDP.
"It is a truly international industry. Almost 50% of assets under management are held for overseas investors."
Lord Mayor of the City of London, Vincent Keaveny, said:
“I’m delighted to be launching the Global Investment Futures showcasing to the world the UK’s many strengths in investment management. Our position at the crossroads of Europe’s biggest financial and tech sectors make us one of the globe’s foremost hubs for innovation. Our unique combination of time zone, language, legal system, global talent, and financial services ecosystem which makes us truly a gateway to global capital and advice.”
Policy Chair at the City of London Corporation, Catherine McGuinness, said:
“Investment management is one of the UK’s great untold success stories. The industry directly employ 42,000 people around the country and supports the jobs of at least 72,000 others in related sectors.
“Let’s highlight these strengths, while continuing to build on them. We can be proud of the services which the UK can offer.”
Chris Cummings, Chief Executive of the Investment Association , said:
“The UK is the home of the world’s leading investment managers. From global firms to specialist boutiques, the industry has deep expertise across all asset classes and markets. The industry is pioneering innovation in a market with a global outlook, high standards for stewardship, conducive regulation and a culture that is diverse and rich in talent – and where people are focused on client needs. We're delighted to be part of this campaign to promote the industry as the best place for investment management firms to conduct their business."
Notes to editors
About the City of London Corporation
The City of London Corporation is the governing body of the Square Mile dedicated to a vibrant and thriving City, supporting a diverse and sustainable London within a globally-successful UK. www.cityoflondon.gov.uk
About the Investment Association (IA)
The IA champions UK investment management, supporting British savers, investors and businesses. Our 270 members manage £9.4 trillion of assets and the investment management industry supports 114,000 jobs across the UK.
The Global City
The Global City is the City of London Corporation’s overarching initiative to promote the UK as a world-leading international financial centre. It showcases the UK as a great place for financial and professional services firms to invest, locate and grow.