Investment Association comment on the Budget
Wednesday 11 March 2020
Commenting on the Budget, Chris Cummings, CEO of the Investment Association, said:
“We welcome the Government’s commitment to investment in innovation and skills, and the relief measures provided to businesses and workers in the face of COVID-19. Investment managers invest in companies across the UK and it is important that these businesses thrive in order to provide long-term returns for savers and investors.
“We look forward to contributing to the Government’s review of the UK’s funds regime and share its aim to make the UK a more attractive location for investment managers to do business. The UK is already a leading hub for the investment management industry and it is vital that we remain competitive. We are pleased that the Government has listened to our industry and will be consulting on simplifying the process for allowing investment funds set up overseas to be marketed in the UK. It is right that savers have access to the widest possible choice of funds.”
ENDS
For further information, please contact:
Katie Martin, Head of Communications: [email protected]
T: +44 (0)20 7269 4655
Helen Ayres, Communications Manager: [email protected]
T: +44 (0)20 7269 4620
David Parton, Communications Executive: [email protected]
T: +44 (0)20 7269 4625
IA press office: [email protected]
T: 020 7269 4696
About the Investment Association (IA):
- The IA champions UK investment management, supporting British savers, investors and businesses. Our 250 members manage £7.7 trillion of assets and the investment management industry supports 115,000 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:
- Build people’s resilience to financial adversity
- Help people achieve their financial aspirations
- Enable people to maintain a decent standard of living as they grow older
- 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 37% of all assets managed in Europe.
