In the Autumn Budget 2017, the UK announced that it will publish a new long-term strategy for the UK asset management industry (termed “Investment Management Strategy 2”). There are currently limited details on what this long-term strategy will include, but we understand that it will include actions, to be taken forward in close collaboration with the industry, on:
- strengthening asset management talent, including expanding the industry’s domestic skill base;
- harnessing financial technology solutions to ensure that UK asset managers are global leaders in fintech solutions and innovative investment strategies;
- mainstreaming innovative investment strategies; and
- continuing a coordinated programme of international engagement.
As part of this work stream an Asset Management Taskforce has recently been established to promote industry dialogue with the government and relevant regulators.