UK manages £9.4 TRILLION of world’s assets, up 11% - ‘despite Brexit’
Brexit Britain manages more European assets than France, Germany, and Switzerland COMBINED
Montage © Facts4EU.Org 2021
The asset management sector in the UK dominates, with over 37% of the European market
The latest 2021 report from the Investment Association represents yet another nail in the Project Fear coffin.
Readers will recall how the likes of George Osborne (then Chancellor), David Cameron (then PM), and almost the entire raft of commercial organisations from the CBI to the OECD predicted certain catastrophe for the UK’s financial sector if Britain voted to leave the European Union.
Capital would flood out of the country, we were told, with most of the UK’s banking community close on its heels. None of this has happened. Indeed the latest report from the Investment Association (IA) shows that the UK is still the second largest investment management centre in the world, after the US, and manages over a third (37%) of all assets managed in Europe.
The UK’s global total of assets under management has increased by 11% in the last year
In the last year the total global assets under management in the United Kingdom have actually increased, and have done so by an astonishing 11%, according to the IA. IA members represent the majority of the UK investment management industry in asset terms (85%).
Industry assets under management stood at £8.5 trillion in December 2019 and had risen to £8.6 trillion by June 2020. “This tells us that most of the growth in assets occurred over the last six months of 2020,” says the Investment Association.
Brexit Facts4EU.Org Summary
UK's asset management for the world jumped 11% in 2020
© Brexit Facts4EU.Org - click to enlarge
UK manages more European investment assets than France, Germany, and Switzerland COMBINED
When it comes to the European picture, the United Kingdom continues to dominate. The UK is by far the largest investment management centre in Europe, accounting for 37.3% of the market according to the latest figures published by the IA. This makes it larger than France, Germany, and Switzerland COMBINED.
Switzerland is not an EU member so to put this in EU terms alone, the UK’s assets under management are more than the combined total of the EU’s top three economies: Germany, France, and Italy.
Brexit Facts4EU.Org Summary
Brexit Britain continues to dominate management of EU assets
© Brexit Facts4EU.Org - click to enlarge
Unfortunately, the importance of Nicola Sturgeon’s SNP Scotland has halved in the last 10 years
The majority of investment management activity takes place in the City of London, but Edinburgh was always in second place and was important.
In 2020 assets managed in Scotland are put at £690 billion, equivalent to 7% of total assets. By way of comparison, the proportion of assets managed in Scotland in 2010 stood at 14%.
In other words, while the rest of the UK has accelerated in its growth in this important sector of the economy, Edinburgh’s importance has halved in just 10 years.
Finally, what is “asset management” and is any of this your money?
If you have a pension, ISA, or other investments, you should care about this.
Investment Association members include banks and other large investment management firms, fund managers, occupational schemes, as well as local government pension schemes. The IA’s members manage these funds and a large proportion of the public depend on their expertise.
The health of this industry sector is vital to the economy and we therefore thought readers would like to know that it is most definitely thriving…. “despite Brexit”.
It has almost become routine for us to publish reports showing the United Kingdom doing well as a (partially) free, independent, and sovereign country outside the EU.
One of the reasons we continue to do this is because there are still many people in positions of power and influence who continue to cling to the dogmas they espoused back in 2016, and in the subsequent years when the Establishment attempted to subvert the largest democratic decision in the history of the British people.
Once again Remain's lies lie broken on the floor
If the excellent post-Brexit news we have been reporting over recent years had in fact been the opposite, readers know they would have been inundated on a daily basis in the pro-EU and anti-Brexit broadcast media and in pro-EU and anti-Brexit newspapers such as the Financial Times and Guardian. As it is, good news is barely mentioned and certainly not headlined.
We feel it is important to continue researching and publishing positive news about Global Britain. Maybe one day the BBC and others will admit defeat. Do please help us to keep going with a donation. We are unable to do a fraction of what needs to be done to ensure a fully-free and prosperous United Kingdom.
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[ Sources: Investment Association | EFAMA ] Politicians and journalists can contact us for details, as ever.
Brexit Facts4EU.Org, Fri 24 Sep 2021
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