We’re the trade body and industry voice for UK investment managers. 

What we do

We champion the investment management industry

The UK investment management industry plays a major role in the economy, helping millions of individuals and families achieve their life goals by helping grow their investments (mainly through workplace pensions). In fact, 75% of UK households use an investment manager’s services (knowingly or unknowingly). The industry also invests, billions of pounds in companies and the financing of transport networks, hospitals, schools and housing projects. The industry supports 113,000 jobs in the UK, including 14,000 in Scotland. It’s the largest industry of its kind in Europe, and the second largest in the world, after America. 

Our members range from small, independent UK investment firms to Europe-wide and global players. Collectively, they manage over £8.5 trillion of assets on behalf of their clients in the UK and around the world. That is 13% of the £67 trillion global assets under management.. We act as their voice and represent their interests to policymakers and regulators, and help explain to the wider world what the industry does.

We help our member firms become better businesses 

We want our members to achieve the best results for their customers, both in the UK and internationally. To do this, we lead learning, training and development initiatives to ensure compliance with the law and industry best practice – all while attracting a more diverse workforce into the industry. We also consult widely with members on issues affecting the industry, such as market trends, new technology, and data use.

How we're structured

We have five key policy divisions, covering every aspect of the investment management industry:

  1. Policy, strategy and research (including funds, pensions and statistics)
  2. Investments and capital markets
  3. Stewardship and corporate governance
  4. Business: risk, culture and resilience
  5. International and European

These policy teams are supported by four non-policy divisions: 

  1. Corporate Affairs team – focusing on external communications and advocacy for the UK, EU and overseas
  2. Enterprise – covering membership, training and events
  3. Internal operations - these include finance, HR, IT and facilities functions
  4. Investment20/20 – the careers service for the industry.

Each of these nine divisions is led by a director who sits on the IA’s Executive Committee

Diversity and Inclusion at the IA

Women in Finance 

We signed the Women in Finance Charter in February 2017. Sponsored by HM Treasury, the charter is a pledge for gender balance across financial services.

Our commitment

Currently, our senior management team has a ratio of 68 female to 32% male. We’re committed to keeping female representation above 40% over the next five years, and we’ll report our progress each year. Chris Cummings, CEO, is accountable for gender diversity and inclusion at the IA.

Our progress

When the Investment Association signed up to the Women in Finance Charter in February 2017, its senior management team comprised of 46% women (7 men and 6 women). Since this time, the organisation has grown by 50.8% (from 63 to 95 employees at 31 August 2020). Line management responsibility has been distributed further across the business with this growth and the senior management team now comprises 68.0% women (17 women and 8 men), which is representative of a workforce which is 66.3% women.

We believe we are on track to meet our Charter target by our deadline.


Image of Women in Finance Charter logo

Gender Pay Gap

We want to create a diverse and inclusive UK investment and savings industry at all levels, including in our own organisation.

Since 2017, UK companies with 250+ employees have to report their gender pay gap for salaries and bonuses. This encourages larger employers to reduce the pay gap in their workforce – often due to a lack of gender diversity – particularly, in the most senior jobs.

It’s important. We see first-hand that more diverse organisations are typically more effective. And as the trade body representing the asset management industry, we think it’s right we voluntarily publish our own gender pay gap, too.

Although we’re not obliged to, we think greater transparency is important to achieve change and increase gender diversity.

You can read our gender pay gap report here.

Constitution and Annual Report

The Investment Association is a company limited by guarantee, with registration number 4343737. You can find the IA’s Articles of the Association here

Each year, we publish a detailed update of our goals and activities in our annual report. You can download the latest one here.

History of the Investment Association


The IA merges with Investment20/20 to increase diversity by changing perceptions and raising awareness of careers in the investment management industry. Together, they build on Investment20/20’s successful trainee programme and grassroots links with school-leavers and graduates, enrich career entry into the sector at all stages, and equip young professionals with the leadership skills to thrive.


The IMA merges with the Investment Affairs Division of the Association of British Insurers (ABI) to create the Investment Association (IA). The IA now covers the entire range of investment issues for investment managers and clients.


AUTIF merges with the Fund Managers’ Association (FMA) to create the Investment Management Association (IMA). This reflects the overlap in membership and interests and the industry’s growth. For the first time, one trade association represents the whole investment management industry, creating a more powerful voice in the UK, Europe and worldwide.


The UTA rebrands as the Association of Unit Trusts and Investment Funds (AUTIF). Its objectives, to:

  • make representations to the UK government on legislative, regulatory and tax matters
  • liaise with UK and European regulators and other relevant organisations
  • increase public awareness and understanding of investment funds
  • improve training standards in the industry
  • educate school children about personal finance 
  • offer members valuable information and help
  • provide information to external parties interested in the industry.


The organisation is renamed the Unit Trust Association (UTA). Its objectives, to:

  • uphold standards of unit trust practice
  • protect the interests of unit holders
  • maintain the good name of the industry
  • represent the industry to government departments and other authorities
  • work with other organisations on investment protection matters.


On 13 October, several organisations merge to protect and promote the interests of investors and investment managers. This was called the Association of Unit Trust Managers, formed to represent the interests of unit trusts and mutual funds.