Investment Association Annual Dinner 2019

We will be ready to move our sleeves up and continue to make open markets work effectively. Our suggestions on finance governance and the potency of planks and the role of unbiased directors are an important part of ensuring the interests of investors. We’ve founded our new Asset Management Authorisations Hub, designed to ease what we recognize can be a complicated procedure for seeking authorisation for new asset managers. It really is a pleasure to be here at Mansion House tonight.

I spoke here two weeks back at the annual Regulators’ dinner, unfortunately that evening I forgot to bring the majority of my voice with me but. I was struck by the Prime Minister’s problem – of the voice that is – on a single day. But I put the good lot of money of the Lord Mayor’s solution, the magic Mansion House potion of whisky with smaller amounts of other activities added.

And, when the first one ran out and I was speaking, another appeared duly. It’s one particular things you could dream of – I am at Mansion House making a speech here, holding one glass of whisky, and another then. Tonight, the good news is that there surely is only one regulator to speak before you can enjoy yourselves, but I’m afraid it’s me, and I’ve a voice no whisky. I don’t know whether it’s a real sign that you earn it when you have a dinner at the Mansion House.

If so, the Investment Association has impressively done so in double quick time, because I thought it was supposed to have a few decades to get here. It’s well deserved, and a reflection of the need for investment management. My plan tonight is to start by saying a bit about the importance of investment management, and what defines the public policy desire for it today.

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I will then briefly say something about the FCA and our role. And I am going to end by aiming a true quantity of big conditions that we face collectively, and you may find out by me that when it emerged to selecting the best issues, they were easy to find. This tells us something about the world and financial systems.

Bank property in Asia have extended rapidly in the last decade, most obviously in China. Assets under management in Asia never to have expanded at anything like the same rate. Be aware that Asian GDP is continuing to grow quicker also. US firms have expanded their share of assets under management at the trouble of European firms.

But it has not affected the position of London as a financial center. Within the last decade, the assets managed by UNITED STATES fund managers based in the UK have increased from 25% to 45% of total UK resources under management. We are open for business. In the last decade the property managed by UNITED STATES fund managers based in the united kingdom have risen from 25% to 45% of total UK possessions under management. We are open up for business.