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UK needs fund structure to “rival Luxembourg and Ireland”

Nick Mottram New City InitiativeThe free movement of people, goods and services between the UK and EU ended on January 1, 2021. In Funds Europe, the New City Initiative re-iterated its call for a UK cross-border fund structure to rival those of Luxembourg and Ireland.

The post-Brexit UK fund - as well as creating jobs not only in the City, but also in the UK regions - could even facilitate the onshoring of more asset servicing roles that have traditionally gone to Luxembourg and Ireland, says Nick Mottram, chairman of New City Initiative, which is a ‘think tank’ focusing on financial regulation.

In an ‘Association Column’ article in the December issue of Funds Europe, Mottram writes: “Strategic tax incentives can also play a role. This might include exemptions for non-UK investors from paying UK tax on investments, something which could stimulate foreign investment in the UK’s asset management firms and promote further employment in the financial services industry – particularly outside of London.”

*Read the Association Column here:

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