The Investment Association’s (IA) Statement of Principles launched in April appears to have been successful, with 25 members controlling £1.8 trillion (€2.6 trillion) of assets having signed up.
The IA has published the names of asset management firms who have signed up to its Principles and it includes some of the largest global firms, including BlackRock Investment Management and Vanguard Asset Management.
Helena Morrissey, chair of the IA, says that signing up to the Principles is important to show that clients can trust the industry to put their interests first, ahead of its own.
The initiative was prompted by the introduction of auto-enrolment and pension liberalisation, meaning that millions of additional people will depend more directly on investment managers for their financial well-being than ever before.
“I am hugely encouraged that the Principles have got off to such a strong start,” says Daniel Godfrey, chief executive of the IA.
All signatories will publish a statement at the end the year explaining how it has put the Statement of Principles at the heart of their organisations and how they will identify and deal with any issues that could compromise their ability to uphold the Principles.
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