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25 Investment firms with £1.8 trillion of assets sign statement of principles

Monday 3 August 2015
  • Signatories to the Investment Association’s Statement of Principles are making a public commitment always to put clients’ interests first and ahead of their own
  • 25 members with 34% (£1.8 trillion) of industry assets under management have registered as signatories

Investment managers play a crucial role in society. They help clients build a fund to cope with financial hardship, to pay for the things they dream of and to have confidence they will have a comfortable standard of living as they get older.

The introduction of auto-enrolment and pension liberalisation means that millions of additional people will depend more directly on investment managers for their financial well-being than ever before. The industry recognises how big a responsibility this is.

That is why, in April this year, the Board of the Investment Association approved a Statement of Principles that sets out in clear terms what those responsibilities mean in practice.

All signatories will, by the end of the year, publish a statement, in plain English, on their websites. This will explain how they put the Statement of Principles at the heart of their organisations and how they identify and deal with any issues that could compromise their ability to uphold them. They will then report annually on their success in applying them.

Helena Morrissey, Chair of the Investment Association, said:

“The industry is being asked to deliver lifelong financial well-being. We can only do that if clients can trust us to put their interests first and ahead of our own. The Investment Association Board approved these principles to make it easy for clients to see how their investment manager earns that trust.”

Daniel Godfrey, Chief Executive of the Investment Association, said:

“Those who have committed to the Principles so far manage from under £50 million to more than £750 billion from the UK. Some are foreign-owned, others UK. Some are insurance company or bank-owned, some are independent. But what brings them all together is the depth of their commitment to their customers.

”I am hugely encouraged that the Principles have got off to such a strong start.”

The signatories will do their utmost to:

1 – Always put their clients’ interests first and ahead of their own

2 – Take care of clients’ money as diligently as they would their own

3 – Only develop, offer and maintain funds and services designed to add value for clients and help them achieve their financial goals

4 – Maintain and apply the investment and operational expertise needed to meet the objectives agreed with clients

5 – Make all costs and charges transparent and understandable

6 – Disclose to investors the source and value of any other material benefit they receive as a consequence of their role as investment manager

7 – Ensure regular, timely and clear lines of communication with clients

8 – Set out clearly their approach to the stewardship of client assets and interests

9 – Maintain a corporate culture that sustains these principles

10 – Work with industry colleagues and stakeholders to develop and maintain guidance on industry best practice


Alliance Trust Investments Newton Investment Management
AXA Investment Managers UK Old Mutual Global Investors
Baillie Gifford & Co Rathbone Unit Trust Management
BlackRock Investment Management (UK) Record Currency Management
City of London Investment Management Royal London Asset Management
EdenTree Investment Management Seneca Investment Managers
Henderson Global Investors Sharefunds
Hermes Investment Management Skagen AS
HSBC Global Asset Management (UK) Smith & Williamson Investment Management
Kames Capital T. Bailey Asset Management
Legal & General Investment Management TwentyFour Asset Management
Liontrust Asset Management Vanguard Asset Management
Majedie Asset Management


For further information please contact:

John Kenchington
Director of Communications
M +44 (0)7834 089 332

Navdeep Sidhu
Media Relations Manager
T +44 (0)20 7269 4663
M +44 (0)07843 517 618

Alex Hogan
Press and Digital Media Officer
T 020 7269 4620
M 07508 724 066

About The Investment Association

  • The Investment Association is the trade body that represents UK investment managers, who collectively manage over £5.5 trillion on behalf of clients
  • We’re here to make investment better. Better for clients, so they achieve their financial goals. Better for companies, so they get the capital they need to grow. And better for the economy, so that everyone prospers.
  • Our purpose is to ensure investment managers are in the best possible position to:
    • Build people’s resilience to financial adversity
    • Help people achieve their financial aspirations
    • Enable people to maintain a decent standard of living as they grow older
    • Contribute to economic growth through the efficient allocation of capital
  • The money our members manage is in a wide variety of investment vehicles including authorised investment funds, pension funds and stocks & shares ISAs
  • The UK is the second largest investment management centre in the world, after the US
  • Our website includes an area for consumers which explains why it’s important to invest and how you can invest in a fund