Assets managed in the UK on behalf of overseas clients have reached a record £5.1 trillion, marking the first time they have exceeded 50% of the total assets under management, according to the Investment Association. This figure represents a doubling of overseas client assets over the past decade, outpacing the approximately 40% growth in UK client assets during the same period.
The total assets under management in the UK reached a record £10 trillion in 2024, a 10% increase from £9.1 trillion in 2023. European clients account for the largest share of overseas AUM, contributing £3 trillion, a 20% year-on-year increase. North American investors have £990 billion managed in the UK, while clients in Asia-Pacific account for £740 billion. Latin-American client assets showed the fastest growth in 2024, increasing by 40% to reach £70 billion.
Chris Cummings, CEO of the Investment Association, noted that this growth is driven by the UK's reputation as a global hub for portfolio management, attracting an increasing number of international clients. A significant portion of this growth comes through funds domiciled in Ireland, which now represent over half of overseas fund assets managed from the UK. Retail investors' assets reached 28% of total AUM in 2024, surpassing pension funds (27%) for the first time.
