Over 30 institutional investors that think investment should better serve the needs of end savers and wider society have signed up to a global forum.
The asset managers, which include Railpen, a large UK pension scheme, have $11 trillion (€9.9 trillion) of assets under management between them and will try to effect change through Towers Watson’s not-for-profit Thinking Ahead Institute.
The group’s aim is to “influence change in the investment world for the better by improving the provision of savings”.
Tim Hodgson, head of the Thinking Ahead group at Towers Watson, says: “Despite how our industry is perceived and the slow pace of change, there are many institutions that believe the investment industry should better serve the needs of the end saver and wider society, not just those of its employees and shareholders.”
He says that by acting together, with trillions of dollars of assets under management or advice, the institute will become a “prominent force for improving the value proposition for savers globally”.
The institute operates as a global forum and uses research and discussion collectively to improve the investment industry for the benefit of the end saver.
The other members are: Aegon Asset Management, Affiliated Managers Group, AMP Capital, Axa Investment Managers, Amundi Asset Management, BNP Paribas Investment Partners, Commonwealth Bank Group Super, Coronation Fund Managers, Dimensional Fund Advisors, First State Investments/Colonial First State Global Asset Management, Future Fund, Global Thematic Partners, Janus Capital Group, Lansdowne Partners, QIC, QSuper, Schroders, T. Rowe Price International and Wellington Management.
©2015 funds europe