Foreign funds pour into UK

Flows of money from overseas investors boosted funds at British asset managers to a record ?5.4trn last year. The amount of capital now managed by these companies stands 30 per cent higher than before the financial crisis, according to figures from TheCityUK. More than a third of the funds, or about ?2trn, came from foreign clients, meaning the UK now accounts for more than 8 per cent of global fund management assets, reported the Independent newspaper. The figures come after the Office for National Statistics revealed that more than half of UK shares are owned by foreign investors.