As Tim Hodgson tweeted today @TimMHodgson via @ow.ly/HbGMi there are interesting developments in the area of standards for UK fund managers. The FT reported that the Investment Management Association (UK) will publish a statement of investment principles to help raise industry standards. Its chief executive David Godfrey was quoted as saying: “We need to look at the bigger picture, which is about making investment better and making sure investment managers are able to demonstrate how they give customers a fair deal and put their interests first.”
The principles will contain seven or eight key standards which are expected to cover fees, transparency, value for money and putting the customer first.
Godfrey echoes the Institute’s mission of improving investment for the benefit of the end saver, the end investor. Roger Urwin also touches on similar themes in his CFA keynote address here – see the second article in the Latest Thinking section.
I recently moved from Australia to London and find it a real positive that the industry in the UK is being pro-active. In Australia there has been a push by the government to give the end investor a better deal (Financial System Inquiry, Super System Review). What are your experiences and observations on government policies around the world to help the end saver? And what are your views on the Investment Management Association’s moves to raise manager standards in the UK? I’d be very interested to hear your thoughts.