$23 Trillion Asia Wealth Creation Will Fuel Asset Management Industry Growth

Despite uncertainty regarding the country's position in the world after Brexit, the one part of the UK economy that's still booming is financial management.

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[klarman]

Total assets under management in the UK rocketed by 20% last year to a record £6.9 trillion ($9 trillion), according to the Investment Association annual Asset Management Survey. The bulk of this growth was a direct result of Brexit. The slide in the value of sterling since the vote has increased the value of assets held in other currencies. According to the survey, £2.6 trillion is managed in the UK on behalf of overseas investors, and more than half of this is managed for non-UK European clients...