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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