Forbes – Assets under management in the UK fund management industry grew by 7 pct to a record 3.5 trln stg in 2005 on the back of strong growth in hedge funds and property funds as well as private client funds, according to International Financial Services London (IFSL).
IFSL said UK institutional funds such as pension funds, insurance companies and local authorities comprised two-thirds of funds under management, while 15 pct came from retail funds such as unit and investment trusts.
Alternative funds such as hedge funds, property funds and private equity funds made up 11 pct and the remaining 8 pct came from private clients.
According to the report, a quarter of its UK’s funds under management came from overseas markets.
