The Investment Association (IA) is to make public a list of asset managers that sign up to its newly released Statement of Principles.
IA’s core principle – that investment managers “always put clients interests first and ahead of our own” in the execution of their duties – goes further than the regulatory requirement in the UK of simply “treating customers fairly”.
Helena Morrissey, chair of IA says: "Investment managers recognise that they need to welcome scrutiny and to be held accountable. They also need to demonstrate clearly that they have an obsession with high standards of integrity and competence. These Principles go further than regulation to fulfill these requirements.”
She says adherence to the Principles will ensure that clients can be confident in their investment managers’ integrity and approach to delivering on the objectives they have agreed.
The IA will maintain a list of signatories on its website from July 31, 2015, a link to members’ descriptions of their approach from January 1, 2016, and a link to annual reports on the Principles from January 1, 2017.
Also in January 2017 IA will review the Principles, considering uptake, impact and feedback from all stakeholders.
Investment management is one of the UK’s core industries, the IA says, with over £5 trillion (€7 trillion) of assets under management.
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