(by Ameli Berksman)

Great Britain was recently criticised for creating conditions for funds that can make them leave the country.

Funds now insist UK to make tax regime milder and more favourable for their functioning, fund managers say. UK having lost the majority of its fund companies can get more serious about companies attracting, they add.

“I don’t believe the UK government has focused on making sure it is attracting all aspects of the fund industry as Dublin and Luxembourg have. That will inevitably lead to funds leaving the UK,” said David Newton, a partner at PricewaterhouseCoopers.

UK, having a superiority complex of the biggest economy in Europe, did not trouble to break taxes to fund managers and that created market decline. “I personally think that’s the wrong approach,” Newton added.