Technology Working Group publishes report on fund tokenisation


Following its re-establishment in April 2023,  the Economic Secretary to the Treasury’s Asset Management Taskforce established a Technology Working Group –  chaired by Michelle Scrimgeour, CEO of Legal and General Investment Management – to examine the impact of new technology on the asset management sector.

This group of industry experts – working closely with the Financial Conduct Authority and HM Treasury – have focused the first phase of their work on creating a blueprint for implementing fund tokenisation in the UK, recognising the revolutionary potential of this technology to propel the asset management sector forward.

The Technology Working Group have today published UK Fund Tokenisation – A Blueprint for Implementation.

The government warmly welcomes this publication. It will advance the wider conversation on the role of technology in asset management, and signals that the UK is welcoming of innovation and open for the exciting new business of the future.


Tokenisation refers to the issuing of units that are recorded on a distributed ledger, as opposed to units that are recorded on more traditional systems of record-keeping. Transitioning the existing operational infrastructure underpinning investment funds onto a distributed ledger will drive further efficiency and transparency within the sector, and improve its competitiveness. 

Technology Working Group members

  • IA
  • LGIM
  • HMT
  • FCA
  • EY
  • Legal & General Investment Management
  • Fidelity International
  • Baillie Gifford
  • Blackrock
  • JP Morgan Asset management
  • M&G
  • Schroders
  • Archax
  • Aquis Exchange
  • Augmentum
  • Calastone
  • CMS
  • Copperco
  • Galaxy Digital
  • Hargreaves Lansdown
  • Innovate Finance
  • London Stock Exchange Group
  • NEST
  • Northern Trust


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