The survey shows the UK asset management industry is becoming increasingly international with £800 billion, or 27 per cent of total assets, being managed on behalf of overseas clients.
Of the £650 billion funds under management for retail clients, over a third is domiciled in Luxembourg, Dublin and other overseas locations.
IMA chief executive Richard Saunders says the asset management industry is a major component of the UK financial services sector and is of critical importance to the UK economy.
He says: “It is operating against a backdrop of evolving markets offering increased opportunities both domestically and internationally.
“During the course of our interviews we found that firms continue to be positive about the UK as a location in which to do business although there remain concerns about the cost of regulation and tax compliance. And, while the commercial environment for firms has been buoyant of late, chief executives are considering carefully how to respond to the changes that they foresee in the coming period.”