Four new directors have been appointed to the Investment Association (IA) Board of Directors following its Annual General Meeting (AGM) this afternoon. The Board of Directors oversees the IA’s activity and is made up of senior leaders from across the industry.
Investors are urging the Chancellor to deliver a budget on the 30th of October that creates a culture of inclusive investment to drive growth for the UK economy and boost households' financial security.
UK savers invested £1.3 billion into funds in July, according to data published by the Investment Association (IA). Whilst cautious optimism persists among investors, in a second consecutive month of inflows of over £1 billion, higher flows to fixed income funds suggest that investors remain risk conscious.
The Investment Association (IA) today opens applications for the eighth cohort of its annual Engine Innovator Programme, a FinTech accelerator for the investment management industry. Engine is the IA’s specialist FinTech hub, working with over 150 FinTech firms and partners to fuel the adoption of technology within investment management.
UK savers put £1.2 billion into funds as inflows bounced back in June, with the figure bringing overall inflows for the first half of 2024 to £1.7 billion. This contrasts with £5.6 billion outflows in H1 2023 and £18.6 billion outflows in H2 2023, further signalling a potential turn of the tide for fund flows and improving investor confidence.
The UK investment management industry has seen a growth in assets under management to £9.1 trillion in 2023 (£8.8trn, 2022), according to the latest annual figures from the Investment Association (IA). This growth is testament to the resilience and global appeal of the industry, despite a challenging year of continued geopolitical uncertainty, as markets continued to adjust to the new market cycle and the end of the era of very low interest rates and quantitative easing.
Boosting trade is a crucial ingredient to generating growth in the UK. The UK's investment management industry is a truly global success story, with almost of half of assets managed for overseas clients, representing £4.2 trillion. We're proud that people from around the world choose the UK to help them to achieve their financial goals. That brings jobs and tax revenue to the UK, and means that crucial investment decisions are taken closer to home. We will be working with the government as it builds and deepens trade relations."
We welcome the Government's focus on securing economic stability and growth, encouraging investment, and improving people's financial futures through wealth creation. Today’s speech offers a forward-looking plan which recognises the importance of partnership with the private sector, and the investment management industry will play an active role in achieving these aims.
Our key purpose is to make investment better for savers and investors, for companies and their employees, and for the economy. That way, everyone prospers.