6th Oct 2015 05:35
LONDON (Alliance News) - Two of the UK's biggest fund management companies are to quit the Investment Management Association amid criticism that the industry trade body has been "too aggressive", the Financial Times reported.
Schroders PLC and M&G Investments, which is owned by Prudential PLC, have around GBP550 billion in combined assets under management, about 10% of the total of GBP5.5 trillion in assets managed by the IMA's members.
Some City investors have said the association has been overzealous in carrying out reforms in areas such as the transparency of fund management fees and transactions costs, the FT said.
https://next.ft.com/content/21eaa072-6b5c-11e5-aca9-d87542bf8673
By Sam Unsted; [email protected]; @SamUAtAlliance
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