UK asset managers looked after about £3.8 trillion (€4.8 trillion) at the beginning of the year, an increase of about £300bn, according to the latest annual survey of the industry by the national Investment Management Association.

Respondents to the survey comprised members of the IMA that managed £3.4 trillion of assets. They estimated that of the total £3.8 trillion at the end of last year, 52% was invested in equities, 32% in fixed income, 9% in cash and 4% in property, with the remaining 3% in other asset classes.