The Brexit brouhaha, geopolitical concerns and the Woodford fallout all conspired to make 2019 a tough year for fund groups. Thankfully it ended on a high with sales surging in December after the government’s election victory and the end of political uncertainty. As a result, gross fund sales via platforms in the last quarter rose to £34bn and net sales £9bn, bringing yearly totals to £112bn and £36bn respectively.
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The UK fund industry is the largest domestic and most dynamic fund market in Europe with assets of £1.2trn (June 2018). Fund groups from all over the world arrive in the UK to sell their funds, but find it difficult to gain a foothold. On the surface the distribution opportunities seem substantial, but the landscape is complex, multi-layered and advice-driven and fund groups will need multi-channel strategy to succeed.