Treasury should support offshore centre business - AIC

Responding to the Foot Review, the AIC has recommended the Treasury backs British offshore financial centres which are home to almost a third of investment companies whose shares trade on UK markets. The Foot Review, due in September, will probe the interdependence between the UK and offshore financial centres, as well as assess the risks arising from the current economic climate. Growth of the closed-ended investment company sector has been almost entirely offshore over the past five years, raising £16.5bn compared to £2bn onshore. The AIC believes this represents a vote of confidenc...