IA comments on the Brexit votes in Parliament

Tuesday 29th January 2019

Commenting on the votes in Parliament, Chris Cummings, Chief Executive of the Investment Association, said:

“With exactly 2 months before the UK leaves the EU, asset managers and the millions of savers and businesses who rely on them are looking for greater certainty.

“It is critical that every effort is now made to find a constructive path forward that protects Europe’s savers and investors from the cliff edge effects that a no-deal Brexit could bring.

“Asset managers have been working on no-deal contingency plans since day one, but an orderly transition must remain the common goal of policymakers and business alike if UK and European savers are to be protected.”

-Ends-

Notes to Editors

David Parton: [email protected]

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About the Investment Association (IA):

• The IA champions UK asset management, supporting British savers, investors and businesses. Our 250 members manage £7.7 trillion of assets and the asset management industry supports 100,000 jobs across the UK.
• 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:
• o Build people’s resilience to financial adversity
• o Help people achieve their financial aspirations
• o Enable people to maintain a decent standard of living as they grow older
• o 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 35% of all assets managed in Europe.