IA comments on Mansion House Accord
Commenting on the new Mansion House Accord, Chris Cummings, CEO of the Investment Association, said:
“The Mansion House Accord is a welcome commitment to the UK growth agenda. The investment management industry plays a critical role in the pensions ecosystem, investing £2.2 trillion directly for UK pension schemes. Working with both the specific pension funds making the commitment and the pension industry more broadly, we are committed to delivering better retirement outcomes for pension scheme members whilst channelling productive capital into attractive business and infrastructure opportunities to boost UK economic growth.
“We are pleased to see a broader definition of private market investments, including property and infrastructure, included in the new Accord – something we have long advocated for. Private markets can play an important role in improving outcomes for investors through greater diversification, while ensuring more capital is directed to the parts of our economy with the most productive potential.
“Alongside measures to boost UK capital allocation by pension schemes, further reforms to improve the attractiveness of UK capital markets for all investors will help the government to achieve its growth objectives.
“The government’s pensions investment review is critical to ensuring that people are able to achieve better retirement outcomes as well as scaling up investment by the pension sector in the UK economy. As we await the forthcoming Pension Schemes Bill and the next phase of the Pensions Review, we look forward to continuing to work closely with government, industry and regulator to a create a pensions system that works for all.”
For further information, please contact:
Helen Ayres, Head of Communications: [email protected]
T: +44 (0)20 7269 4620
Ellen Hodgetts, Communications Manager: [email protected]
T: +44 7548841289
IA Press Office: [email protected]
About the Investment Association (IA):
- The IA champions UK investment management, supporting British savers, investors and businesses. Our 250 members manage £9.1 trillion of assets and the investment management industry supports 126,400 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.
