The signing of the MOU on financial services is an important milestone. A close partnership between the UK and EU, which recognises the long-shared history of cooperation, is of mutual benefit and will mean a more resilient and dynamic investment management sector across Europe that benefits citizens and businesses wherever they may be located.
February’s steady inflows were largely driven by bond funds, which saw inflows of £1.1 billion. Other funds followed the trajectory we saw in January, with North American equities and mixed asset funds continuing to see modest inflows in February.
We strongly welcome the abolishment of the lifetime allowance and the increase of the pensions annual allowance. This removes unnecessary complexity and creates a clear and unambiguous incentive for people to save for retirement and helps them achieve their long-term savings goals. It also has the potential to provide additional funds for investment in UK businesses and infrastructure through DC pension schemes.
The Investment Association (IA), the UK’s trade body for the investment management industry which represents 250 members managing £10 trillion assets under management, has joined the International Organization of Securities Commissions (IOSCO) as an affiliate member.
UK investors put £1.4 billion into funds in January in a more positive start to 2023, following December’s outflow of £281 million, according to data published today by the Investment Association (IA).
The Investment Association (IA) is calling on the Chancellor to announce measures that will allow investment managers to capitalise on international opportunities, strengthen the industry’s ability to support growth in the economy and help the three-quarters of UK households who use the services of an investment manager secure their long-term financial futures.