Press Release
INVESTMENT MANAGEMENT ASSOCIATION CELEBRATES FIFTH ANNIVERSARY
8 March 2007
Speaking at a Party yesterday evening to celebrate the Investment Management Association’s (IMA) 5th anniversary Simon Davies, IMA Chairman said:
“Five years ago IMA was set up to provide a new and more effective voice for the industry. Since then, it has led the debate about issues affecting the fund management industry, increasing the visibility and improving the understanding of our industry in the process.
It is now clear that policy-makers and opinion formers have a greater appreciation of our industry and what we can offer to investors.
As an industry we are proud to promote and adhere to high standards, among them transparency, accountability and customer focus, and we carried out a review of fund governance to ensure that it continued to meet the needs of investors.
IMA has also encouraged the development of and adherence to good industry practice across a wide range of areas. One such example is our Fund Processing Principles which, once universally applied, will enhance efficiency and client service across the industry.
On a broader level, in many areas we have succeeded in moving away from detailed regulatory intervention in the wholesale markets in favour of cost effective solutions favouring both consumers and the industry.
More recently, our work on the competitiveness of UK funds and encouraging the maintenance of the UK’s attractiveness as a centre for asset management has had resonance, and led directly to the setting up of a working party to take forward our recommendations, primarily on addressing tax uncertainty.
Looking to the future, IMA played a pivotal part in the process now leading to further reform at the European level which will encourage the cross-border market to develop further.
As an industry we will inevitably continue to face further challenges in the years ahead – I have no doubt that the IMA is well-placed to take them on.”
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