Investment Association

Investment Association Naughty Register

I heard Chris Cummings(CC) CEO of the Investment Association on the BBC Radio 4 this morning launching their new naughty register. https://www.theinvestmentassociation.org/publicregister.html The interview went something like this: BBC Interviewer: "Would you have done it if the Government has not led this initiative?" CC did not say YES. CC said: "This was an industry led initiative." BBC: "Yes, but would you have done it if the Government has not pushed it?" CC again declined to say YES. I surmise IA was led kicking and screaming into this by the ...

The belly of the beast – Con Keating and the Investment Association

I am not a great fan of the Investment Association, the trade body that represents UK investment managers. Its 200 members collectively manage over £6.9 trillion on behalf of clients in the UK and around the world. Regular readers will recall my pleasure when Chris Sier was appointed to improve the disclosure of fund manager fees, https://www.fnlondon.com/articles/an-audience-with-chris-sier-the-fcas-new-pit-bull-on-fund-fees-20170804 and my displeasure when the Investment Association were asked by HM Government to maintain the naughty register of companies with more than 20% of their ...

Emotion on Brexit Driving Investment Decisions?

The Daily Telegraph led its business section with a headline "Brexit vote led to biggest fund exodus on record" this morning. It reported that the referendum result caused the sharpest stock market fund sell off on record, apparently caused by private investors becoming "too emotional" over the vote. Investors in stock market funds sold a record £3.5bn from their portfolios in June in data reported by the Investment Association. However the press release issued by the Association also indicated that funds under ...

Investment Association Tackles Executive Remuneration

The Investment Association represents institutional investors. Last week (on 26/7/2016) their Executive Remuneration Working Group issued ten recommendations for how to "rebuild trust in pay". They claim to have consulted 360 investors, asset owners and company employees before producing their final report. One of their objectives is to simplify pay structures while improving the alignment of the interests of directors with those of shareholders. It is widely acknowledged that the pay of directors of public companies has got out of hand and ...

Corbynomics, Director Remuneration and Voting

The media is full of analyses of late of the impact of the new Labour front bench and the policies of the key players such as Shadow Chancellor John McDonnell and Business Secretary Angela Eagle. Mr McDonnell apparently advocates big increases in public spending, higher taxes on the wealthy, cancellation of the independence of the Bank of England and widespread nationalisations of energy companies and the railways. The Financial Times ran an editorial on 16/9/2015 suggesting that Mr McDonell's "cavalier disregard of ...