IA comments on Update on the Overseas Funds Regime: The UK's Equivalence Assessment of the EEA

Jonathan Lipkin, Director of Policy, Strategy and Innovation, at the Investment Association, commenting on the Overseas Funds Regime:

“We strongly welcome today’s confirmation from HM Treasury that UK investors will continue to benefit from the full range and choice of European funds, including ETFs. Under the regime, EEA states, including EU members, will be considered equivalent under the Overseas Fund Regime (OFR) for UCITS. It also cements the UK’s place as the leading global centre for investment management. We are pleased to see an extension to the Temporary Marketing Permissions Regime (TMPR) until 2026, allowing more time for funds in the TMPR a smooth transition to the OFR.”

“We will continue to work closely with the FCA on ensuring the application process for investment managers is smooth and efficient and look forward to engaging with Government on the SDR consultation.”

For further information, please contact:

Helen Ayres, Head of Communications: [email protected]

T: +44 (0)20 7269 4620

Arianna Schardt, Communications Executive: [email protected]

T: +44 (0)20 7269 4625

IA Press Office: [email protected]

About the Investment Association (IA):

  • The IA champions UK investment management, supporting British savers, investors and businesses. Our 250 members manage £8.8 trillion of assets and the investment management industry supports 126,400 jobs across the UK.
  • Our mission is to make investment better. Better for clients, so they achieve their financial goals. Better for companies, so they get the capital they need to grow. And better for the economy, so everyone prospers.
  • Our purpose is to ensure investment managers are in the best possible position to:
    • Build people’s resilience to financial adversity
    • Help people achieve their financial aspirations
    • Enable people to maintain a decent standard of living as they grow older
    • Contribute to economic growth through the efficient allocation of capital.
  • The money our members manage is in a wide variety of investment vehicles including authorised investment funds, pension funds and stocks and shares ISAs.
  • The UK is the second largest investment management centre in the world, after the US and manages 37% of all assets managed in Europe.