Key takeaways

• As Forrest Gump famously drawled, “life is like a box of chocolates, you never know what you’re gonna get”. 
• Much the same can be said about UK budgets, and recent history has suggested that for those in the investment fund industry, the box is most likely to be filled with coffee creams (which, surely no one really likes). It was therefore with bated breath that we listened to the UK Chancellor give his address earlier today, and the budget itself was like a box of chocolates - mixed.
• We are still awaiting the draft legislation (to be published on Thursday 24 March). This update is therefore by way of an interim guide looking at the key areas impacting investment funds operating in or investing in the UK.