PARLIAMENTARY WRITTEN QUESTION
(9 September 2025)

The Government is committed to supporting the UK’s world-leading asset management sector.

Exchange Traded Funds (ETFs) are often domiciled outside of the UK to benefit from increased marketing access, and existing pockets of administrative expertise. However, many of these funds are still managed here - 49% of all assets managed in the UK are managed on behalf of overseas clients.

Semi-transparent and non-transparent ETFs which are domiciled in Europe can list in the UK and market to retail investors, following the UK’s recognition of certain retail funds from the EEA states, under the Overseas Funds Regime.

At present no non-transparent or semi-transparent ETFs have sought to be established in the UK. The Financial Conduct Authority, as the relevant regulator, would deal with any such applications on a case-by-case basis.