Asset managers oversee £1.7tn

The UK asset management industry grew to a record £7.7 trillion, maintaining its standing as the second largest asset management centre in the world, according to new figures.

The report by trade body the Investment Association shows that £7.7tn was managed by members in the UK – an 11 per cent increase from the year before. Some 100,000 jobs are supported by the industry across the UK.