The Investment Association

This morning, Investment Association CEO Chris Cummings was invited alongside Sir Douglas Flint CBE, Chair of abrdn to give evidence to the House of Lords Financial Services Regulation Committee's inquiry into the Financial Conduct Authority’s and the Prudential Regulation Authority's secondary growth and competitiveness objective.   The IA strongly supports the new Secondary Objective and welcomed the opportunity to share where even more can be done to contribute to UK economic growth and competitiveness. Retail investors are a growing segment of the investment management customer base, representing just over a quarter of the assets managed by IA members, but too many people think investing is too complicated or just not for them.   Chris spoke to the importance of creating a culture of inclusive investment in the UK and how we can bring the benefits of investing to more households. One key step will be to ensure investors receive decision useful disclosures that highlight both the risks and rewards of investing, empowering consumers to make informed decisions across all asset classes.   We also welcomed the chance to stress the importance of proportionate regulation and steps that can be taken collectively across industry, regulators and government to deliver both economic growth and the long-term financial resilience of UK households.

There’s less that four weeks to go until our Investment Horizons Conference, hosted by J.P. Morgan Asset Management in London on Tuesday 03 December 2024. Join the industry’s most respected investment managers, institutional investors, and asset owners for a day of innovative discussions on current and future investment strategies and the geopolitical, demographic, economic and technological developments shaping our industry.   We’re excited to welcome speakers across government, industry and policymaking, including: 🔹 Andrew Griffith MP, Shadow Secretary of State for Business and Trade 🔹 Sonja Laud (Schemmann), Global Chief Investment Officer, Legal & General Investment Management (LGIM) 🔹 Jon Relleen, Director of Infrastructure & Exchanges, Supervision, Policy & Competition - Markets, Financial Conduct Authority 🔹 Michelle Ostermann, CEO, Pension Protection Fund 🔹 Sandra Boss, Chair, BlackRock UK.   To find out more and book your tickets, head to: https://lnkd.in/exZZCZgS   With thanks to our event sponsors ACA Group, Euroclear and SS&C Technologies and event host J.P. Morgan Asset Management.

Join us for this afternoon's webinar, taking place at 2pm, on what the Budget means for the investment management industry. We'll hear from IA policy experts, Anshita Joshi (Head of the Risk and Tax Unit), Hannah Marwood (Head of Government Affairs), and Reuben Overmark (Senior Adviser, Retail Markets) on how the tax and policy changes will impact the industry. The session will end with an interactive Q&A. For more details and to register: https://lnkd.in/e8EWky_E

The Investment Association is excited to announce our new charity partnership with The Just Finance Foundation! Just Finance Foundation is a national charity dedicated to educating the next generation, equipping children with the skills and confidence they need for lifelong financial wellbeing.   We’ve kicked off our partnership just in time for this year’s Talk Money Week, an annual awareness week run by Money and Pensions Service encouraging people to open up about their finances. Just Finance Foundation has designed a series of resources aiming to reach as many parents, carers, teachers and employers as possible, encouraging them to take the first step and open up about money.   The content is available on the Just Finance Foundation website now: https://lnkd.in/esaJxtx5 We were delighted to announce the partnership at our Annual dinner earlier this week, where it was fantastic to see so many of our members and individuals from across the wider industry coming together to support this important cause. It was a pleasure to host this event with the support of our Principal Partner EY.   To find out more about the Just Finance Foundation, please visit: https://lnkd.in/gcaSrK2

Today marks a historic moment as the Labour Government delivers its first Budget in 14 years, presented by the first female Chancellor of the Exchequer. We are pleased to support the Chancellor’s vision to grow the UK economy with her mantra to “invest, invest, invest.” Long-term investment is indeed the engine of growth, and our industry already channels £1.4 trillion into the UK economy.   Long-term investment also needs clarity of approach and policy certainty. The proposed modern industrial strategy and corporate tax roadmap are a welcome starting point to attract greater capital. We look forward to working with the Government, alongside the National Wealth Fund, to channel investment into innovation and growth-driving sectors. But this is the beginning of the journey and more will be needed to build domestic and international confidence to drive strong UK capital markets and reinvigorate economic growth in partnership. Fostering a culture of inclusive investment is also important to improve people’s financial resilience, yet today’s Budget was a missed opportunity to implement measures, which could see more people reap the benefits of investing, such as ISA reforms. We will study other aspects of the Budget, such as the intention to levy inheritance tax on unused pension fund, to ensure this doesn’t bring adverse outcomes at a time when people need to be doing more to secure their standard of living in retirement. To read our comment, click here: https://lnkd.in/eGBPWgRT

Our Annual Dinner is a valuable opportunity to hear from ministers, regulators, and officials across the industry on some of the biggest issues and debates in investment management. This year we are delighted to be welcoming Nikhil Rathi, Chief Executive of the Financial Conduct Authority, who will be delivering the keynote address. Thanks to our Principal Partner EY for kindly sponsoring this event, and for the valuable work the firm is doing across the investment management industry.

We are proud that our Investment20/20 team has been shortlisted for City AM’s prestigious Dragon’s Awards. This award recognises the unique opportunities that Investment20/20 provides for the next generation as they enter into the investment management industry. By recruiting new talent, we can utilise their fresh perspectives and skill set to ensure the industry remains a match-fit for the years to come. 

We are just four weeks out from our annual Culture & Inclusion Conference on Thursday 21 November, kindly hosted by M&G Investments and in partnership with Covington & Burling LLP.   Our final session of the day will focus on the proposed changes introduced in the new Employment Rights Bill. At over 150 pages and encompassing 28 employment measures, this ambitious Bill represents a notable shift from current practices. However, while the scope is extensive, many details remain undecided - left to future consultations and secondary legislation. Our expert industry panel will outline the key considerations of the Bill, examine its implications for investment managers, and provide practical insights on how to prepare for this transformation in employment law. We look forward to hearing from speakers including Chris Bracebridge, Rachel Weallans & Isabel Lovett. To find out more about our speakers and the full agenda, click here: https://bit.ly/47zaT39

As we look ahead to the Budget, in partnership with Opinium, we have carried out research into attitudes towards and understanding of financial literacy, pensions, and investing across the UK. Our research has found that concerns around retirement grow with age, but younger generations are already reporting higher engagement with and investment into their pensions. As part of our Budget submission we have therefore urged the Chancellor to focus on creating a culture of inclusive investment to improve UK households' financial resilience. This includes boosting pension growth and building on the success of auto-enrolment by recognising that contribution levels of 8% are not high enough for most people, and act now to look at appropriate saving rates for different groups, including the self-employed. To find out more: https://lnkd.in/e-Ma43Fe

Our Director of Regulation, Innovation, and Strategy, Jonathan Lipkin, spoke to Adrien Paredes-Vanheule from L'AGEFI at the European Finance Forum about the differences in regulation between the European Union and the United Kingdom. Jonathan and Adrien touch on the Overseas Fund Regime, the implementation of SFDR and SDR, and T+1, among other topics. To watch the discussion, click here: https://lnkd.in/eep8H2w8