UK fund assets recover from slump to reach high of £10tn

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UK assets under management have recovered from a 2022 slump, which saw them plummet from a previous highPhoto: SOPA Images/LightRocket via Getty Images

Assets overseen by UK fund groups have reached a peak of £10tn, with retail and overseas investors helping the sector recover from a market-driven drop in 2022.

According to the Investment Association, assets overseen by the trade body’s members climbed 10% last year, increasing from £9.1tn at the end of 2023. The IA said strong equity returns and better economic conditions were among factors that helped buoy assets last year.