East meets West: Asset manager tie-ups move global

A new wave of managers is providing the UK investment industry with some interesting opportunities - and challenges.

Last week it was revealed Italy's largest asset manager, Generali Investments, plans to expand into the UK wholesale market, following in the footsteps of other European players including Spanish boutique Gestión de Fondos, which gained FCA approval to distribute in the UK last year. The new wave of international managers setting their sights on the UK has come after Chancellor George Osborne unveiled a set of initiatives in the 2013 Budget specifically to attract new asset management business to the country, including scrapping stamp duty for UK-domiciled funds. Generali Investments ...