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History of The Investment Association


The Investment Association of today is the result of mergers between a number of organisations that were formed to protect and promote the interests of investors and investment managers. On 13 October 1959, the Association of Unit Trust Managers was formed to represent the interests of unit trusts and mutual funds.


The organisation was renamed the Unit Trust Association (UTA). The main objectives of the UTA were to:

  • Uphold standards of unit trust practice
  • Protect the interests of unit holders
  • Maintain the good name of the industry
  • Represent the industry to government departments and other authorities
  • Work with other organisations on matters connected with investment protection.


The UTA was rebranded the Association of Unit Trusts and Investment Funds (AUTIF). Its objectives were to:

  • Make representations to the UK government on legislative, regulatory and taxation matters
  • Liaise with regulators and other relevant organisations in the UK and Europe
  • Increase public awareness and understanding of investment funds
  • Seek to improve standards of training in the industry
  • Seek to integrate personal finance education in the school curriculum
  • Add value to member companies by providing them with information and assistance
  • Provide information to external parties interested in the industry.


AUTIF merged with the Fund Managers’ Association (FMA), which represented the institutional side of the industry. This merger created the Investment Management Association (IMA) and reflected the fact that the FMA and AUTIF had an overlap of membership and interests, as well as the marked growth of the industry.

For the first time, one trade association represented the whole investment management industry – institutional and retail – creating a more powerful and persuasive voice in the UK, Europe and worldwide.


The IMA merged with the Investment Affairs Division of the Association of British Insurers to create The Investment Association.

The Investment Association now covers the entire range of investment issues on behalf of investment managers and clients, whether they are domestic or international individuals, discretionary managers, life companies, pension funds, family offices or sovereign wealth funds.