The investment arm of UK trade
body the Association of British Insurers (ABI) and the Investment Management
Association (IMA) are to merge to more effectively lobby on issues affecting
asset managers.
The new group would have a
stronger shared voice when dealing with a range of issues, said Daniel Godfrey,
chief executive at the IMA.
"Conventional engagement by
individual investors, or the existing mechanism for collective engagement have
not been able to have the desired impact. And that's particularly where there
are very big companies with a very diversified shareholder base," he said.
The new body would be able to
create a "broader church" and be able to offer better and deeper
assistance to asset managers, he added.
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