UK - The Association of Unit Trusts and Investment Funds (AUTIF) and the Fund Managers' Association (FMA) are in talks that could see the merger of the two organisations by early next year.
A period of consultation, including meetings with members, is planned before formal proposals are circulated.
Commenting on the move, Lindsay Tomlinson, chairman of FMA which represents over 70 UK fund managers with over £2,200bn in assets under management, described the move as “the logical next step” to already “good working relations” between the bodies:
“Bringing together our two associations should significantly enhance our influence and our effectiveness on public policy issues of concern to fund managers.”
Chairman of AUTIF, Alan Burton, added that it would “be important to safeguard the [organisations’] distinctive approaches ... and maintain the high levels of service which members have become used to, at the same time as reaping the benefits of the merger.”
*AUTIF represents the managers of authorised unit trusts and open-ended investment companies in the UK. Its members account for around 99% of the industry by funds under management. By Madhu Kalia
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