It’s now six months since the Investment Association — the trade body for the UK fund industry — drew up a Statement of Principles for every fund manager.
IA members, of which there are more than 200, were asked to make a public commitment to always put clients’ interests’ first and ahead of their own.
So far just 25 firms are known to have signed up. Two non-signatories, M&G and Schroders, have now signalled their intention to leave the association. Three other firms that haven’t signed — Aberdeen, Fidelity and Invesco — are rumoured to have threatened to leave. The IA’s chief executive, whose idea the Statement of Principles was, has been relieved of his duties.
Below is a list of the firms that have agreed to put their clients first. If your fund manager isn’t on it, you might want to ask them why.
|Source: Investment Association|
|Alliance Trust Investments||Newton Investment Management|
|AXA Investment Managers UK||Old Mutual Global Investors|
|Baillie Gifford & Co||Rathbone Unit Trust Management|
|BlackRock Asset Management||Record Currency Management|
|City of London Investment Management||Royal London Asset Management|
|EdenTree Investment Management||Seneca Investment Managers|
|Henderson Global Investors||Sharefunds|
|Hermes Investment Management||Skagen|
|HSBC Global Asset Management (UK)||Smith & Williamson Investment Management|
|Kames Capital||T Bailey Asset Management|
|Legal & General Investment Management||TwentyFour Asset Management|
|Liontrust Asset Management||Vanguard Asset Management|
|Majedie Asset Management|
You can read more about the IA’s Statement of Principles here.
ROBIN POWELL is a freelance journalist and the founding editor of The Evidence-Based Investor. Based in Birmingham, England, he founded Ember Television and Regis Media, and he specialties in helping disruptive financial firms to grow. He also campaigns for a fair, transparent and sustainable investing industry. You can follow him on Twitter at @RobinJPowell.
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