Twenty five asset managers have signed a new statement of principles created by the Investment Association.
The 10-point statement aims to help firms put client’s needs first.
By the end of this year the asset managers that have signed the statement will publish a statement on their websites about how they will identify and cope with any issues that goes against the principles.
The Statement the asset managers, representing £1.8trn assets under management, have signed is:
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
The asset managers that have signed up so far to the Principles are shown below:
| Old Mutual Global Investors | Axa Investment Managers UK |
| 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 Management |
| 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 | Newton Investment Management |
| Alliance Trust Investments |
