Britain says will simplify foreign investment funds access to UK

Britain says will simplify foreign investment funds access to UK
  • Clock-gray 23:58
  • calendar-gray 19 December 2019

Britain’s government will streamline how foreign funds can be sold to UK consumers after Brexit to help maintain its role as a major asset management center, APA reports citing Reuters.

Setting out its new legislative agenda in the Queen’s Speech on Thursday, the government said it will simplify the process that allows overseas investment funds to be sold in the UK “to maintain our position as a center of asset management and provide more choice for UK consumers”.

Asset managers in Britain collectively manage over 7.7 trillion pounds ($10.1 trillion) for customers in Britain and around the world in centers including Dublin and Luxembourg.

UK-based portfolio managers account for about 36% of managers of Irish domiciled funds.

apa-logo-mini

Other news