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The Investment Association comments on the 2017 Autumn Budget

Wednesday 22nd November

Responding to today’s Budget announcement, Chris Cummings, CEO of the Investment Association said:

“The Chancellor's announcement today to publish a new strategy for the asset management industry demonstrates how central our industry is to our country's economy and to financial services. This strategy forms part of a package of measures, alongside the Asset Management Taskforce launched this autumn, which will provide our sector with a road map to help firms thrive through Brexit and beyond. These measures will help to ensure our industry continues to deliver the best possible outcomes for savers and the UK economy in the years to come.”

Notes to Editors:

The announcement regarding the Investment Management Strategy can be found on p.50 of the Budget document:

Investment Management Strategy - the government will publish a new long-term strategy to ensure that the UK asset management industry continues to thrive and deliver the best possible outcomes for investors and the UK economy. This will include actions, to be taken forward in close collaboration with the industry, on skills, harnessing financial technology solutions, mainstreaming innovative investment strategies, and continuing a coordinated programme of international engagement.

The full Budget document can be found on the government's website: https://www.gov.uk/government/uploads/system/uploa...

For further information, please contact:

Michelle MacMillan
Interim Head of Media Relations
Michelle.Macmillan@theia.org
T +44 (0)20 7269 4696
M +44 (0)7771 899 8645

Helen Ayres
Media Relations Manager
Helen.Ayres@theia.org
T +44 (0)20 7269 4620
M +44 (0)7508 724 066

About the Investment Association:

  • The IA champions UK asset management, supporting British savers, investors and businesses. Our 240 members manage £6.9 trillion of assets and employ 93,500 people across the UK
  • Our members manage the pensions of 75% of UK households, provide 60% of capital market financing for UK businesses and fund 40% of initial public offerings of shares.
  • Our mission is 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 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 and shares ISAs.
  • The UK is the second largest investment management centre in the world, after the US and manages 37% of all assets managed in Europe.