UK holds fund management position
The UK has managed to fend off a challenge by Japan to stay the second largest fund management centre in the world behind the US, a report out yesterday revealed. Japan remains third with a 7.5 per cent market share. The UK is second with 8.3 per cent, while the US dominates with 45 per cent. The UK had its fourth consecutive year of asset growth in 2012, the report from TheCityUK shows, with funds under management in the country rising to a record £5.4 trillion.