Budget 2013: Govt unveils major strategy to boost UK fund industry

The government has announced plans to put UK asset managers at the forefront of its mission to kickstart the economy, saying "opportunities abound" for the sector.

A document published by the Treasury this afternoon, entitled "The UK investment management strategy", outlines a series of measures aimed at broadening the global appeal of the industry. The measures focus on three distinct areas: a "simple, fair and streamlined" tax regime, a "responsive" and "internationally consistent" regulatory environment and a "co-ordinated" international marketing approach. The Treasury is also aiming to capitalise on the introduction of the Alternative Investment Fund Managers Directive this summer. It intends to exploit the opportunity to capture some of...