UK-based asset managers are determined to grow their influence on the global stage despite the challenges posed by Brexit. The Investment Association (IA), which represents the UK’s £7.7trn (€8.8trn) asset management industry, this week issued a statement declaring its intention to double this figure in the next 10 years. It follows the association’s work with the UK government regarding the future approach to financial services and asset management, as well as recent agreements between UK and European regulators to ensure markets keep functioning when the UK exits the EU at the end of next month. The IA said it had set an “ambitious” target of £15trn under management for its members, which include UK-headquartered companies as well as overseas asset managers with a UK presence.