U.K. Fund Management Industry Swells to Record $11 Trillion

Assets overseen by U.K. fund managers swelled to a record 7.1 trillion pounds ($11 trillion) in the first half of 2015, according to TheCityUK.

U.K. funds under management increased as much as 5 percent in the period and are on track to rise more than 9 percent by the year end, the financial-services lobby group estimated in a report on Thursday. That compares with a 9.7 percent gain to a 6.8 trillion pounds in 2014. London-based firms accounted for about 80 percent of the funds followed by those in Edinburgh and Glasgow, the data shows.

The figures come as the U.K. Financial Conduct Authority conducts a market study into competition within the asset management industry to see whether firms deliver value for clients and are motivated to control costs.