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Laxman Pai, Opalesque Asia:

Assets under management held by Investment Association members reached a milestone of GBP 10 trillion ($10.7tn) in 2021, according to the latest study.

Investment Management Survey, the annual assessment of the state of the industry, revealed that the 6% year-on-year increase comes despite the first quarter lockdown, supply chain disruptions, and growing inflation in the second half of the year, and is a mark of the resilience of the industry, it is below the average growth rate seen over the last ten years.

According to the study, the UK continues to be a leading center for investment management, second only to the United States internationally.

At the end of 2021, total assets managed for overseas clients had risen to £4.6 trillion from £4.2 trillion in 2020. This represents 46% of total assets under management, a nine percentage point increase since 2016, suggesting the UK is becoming increasingly more attractive for overseas investors.

The growth of funds under management with responsible investment criteria was again a standout trend in 2021, rising by £34 billion to £89 billion by the end of the year - a 62% increase. While customers continued to be attracted to sustainable investing, they also continued to turn away from UK equities, as part of a longer-term shift to more globally diversified portfolios.

Funds under management in UK equities have fallen to 13% in 2021, down by 25 percentage points since 2006. Assets ......................

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