April 11, 2014 / 7:26 AM / in 4 years

UK insurance, investment management bodies to join forces

LONDON, April 11 (Reuters) - The investment arm of UK trade body the Association of British Insurers (ABI) and the Investment Management Association (IMA) are to merge to more effectively lobby on issues affecting asset managers.

The new group would have a stronger shared voice when dealing with a range of issues, said Daniel Godfrey, chief executive at the IMA.

“Conventional engagement by individual investors, or the existing mechanism for collective engagement have not been able to have the desired impact. And that’s particularly where there are very big companies with a very diversified shareholder base,” he said.

The new body would be able to create a “broader church” and be able to offer better and deeper assistance to asset managers, he added. (Reporting by Simon Jessop; Editing by Steve Slater)

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