Investment - Articles - IMA responds to Kay Review interim report


IMA responds to Kay Review interim report: asset management industry crucial to well-functioning capital markets

 In its response to the interim report of the Kay Review, IMA welcomes the report's emphasis on the role of the asset management industry, and on the importance of stewardship.

 The response also notes that the capital markets perform an important service for investors by allowing them transparent access to long term investments.

 IMA argues that the performance of companies is the responsibility of managements and Boards. The role of shareholders in exercising their stewardship responsibilities is to hold them to account; shareholders, and by extension the capital markets, do not directly impact performance.

 IMA's response also draws attention to the significance of the relationship between asset managers and their clients. This relationship means that investment styles are in large measure the result of client preferences, and this needs to be recognised when considering issues such as over-reliance on benchmarks.

 Liz Murrall, IMA Director of Corporate Governance and Reporting, said:

 "The interim report raises a good many important issues about the operation of capital markets and the importance of good stewardship. IMA members have demonstrated their commitment to stewardship by signing up to the Stewardship Code, and by their increasing levels of activity.

 We welcome the report's clear message that capital markets should first and foremost serve the interests of investors and issuers. And we stress the importance of a proper understanding of the role of asset management within that."

Back to Index


Similar News to this Story

Inheritance Tax raises almost GBP6 billion in 8 months
December’s update from HMRC shows that Inheritance Tax (IHT) receipts reached £5.7 billion through the first two-thirds of this financial year (April
PIC completes first Mosaic buyin with GCB Pension Fund
Pension Insurance Corporation plc (“PIC”) has concluded its first full scheme buy-in within Mosaic, PIC’s streamlined service for pension schemes with
Airways Pension Scheme complete longevity hedge with MetLife
The Trustees of the Airways Pension Scheme (“the Scheme”), Metropolitan Tower Life Insurance Company, a subsidiary of MetLife, Inc., (“MetLife”) and Z

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.