Sustainability and stewardship need to be at the forefront of a “more value focused” funds industry, with greater clarity of approach in sustainable investments, according to the Investment Association (IA).
“More consistent definitions, labelling and disclosure will help customers navigate this new landscape with confidence,” the UK asset management industry trade body said.
Following its annual policy conference, the organisation has outlined its vision for the future success of the sector in the UK and internationally – and sustainability came out on top of three key areas of development.
The industry also needs “greater adoption of technology to drive innovation, improve operational efficiency, lower costs to customers and protect against increasingly complex borderless cyber threats,” the organisation said.
According to IA, it is collaborating with FinTechs to find new solutions to meet the changing demands and needs of the funds industry.
“The investment management industry is at an inflection point. The needs of our customers are changing rapidly, societal expectations are rising, and technological advances will be transformative,” said IA chief executive Chris Cummings.
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