Asset Management

UK fund manager M&A hits record in 2022 as battle for scale rages

Record number of deals came as firms sought 'synergies and growth' amid a tough economic backdrop

Cost and regulatory pressures force managers to look for mergers
Cost and regulatory pressures force managers to look for mergers Photo: Dane Mark/Getty

Asset managers looking to expand their investment ranges and build scale drove UK M&A activity to a record last year.

According to figures from Refinitiv provided exclusively to Financial News, 192 deals were struck involving UK fund houses in 2022, the highest number since its records began more than 40 years ago.

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