The Investment Management Association (IMA) in its ninth annual survey has warned that asset managers will start looking outside the U.K. when considering future expansion plans, Financial News reports. New regulations, high taxes and technological advances are the key factors responsible for the change.
The survey pointed to an example of mutual funds that moved to Luxembourg and Dublin. The asset management industry has grown to almost £4 trillion, with the IMA survey showing £3.9 million in assets under management, a hike of 17% since 2009.
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