Today marks a historic moment as the Labour Government delivers its first Budget in 14 years, presented by the first female Chancellor of the Exchequer. We are pleased to support the Chancellor’s vision to grow the UK economy with her mantra to “invest, invest, invest.” Long-term investment is indeed the engine of growth, and our industry already channels £1.4 trillion into the UK economy. Long-term investment also needs clarity of approach and policy certainty.  The proposed modern industrial strategy and corporate tax roadmap are a welcome starting point to attract greater capital.  We look forward to working with the Government, alongside the National Wealth Fund, to channel investment into innovation and growth-driving sectors.  But this is the beginning of the journey and more will be needed to build domestic and international confidence to drive strong UK capital markets and reinvigorate economic growth in partnership. Fostering a culture of inclusive investment is also important to improve people’s financial resilience, yet today’s Budget was a missed opportunity to implement measures, which could see more people reap the benefits of investing, such as ISA reforms. We will study other aspects of the Budget, such as the intention to levy inheritance tax on unused pension fund, to ensure this doesn’t bring adverse outcomes at a time when people need to be doing more to secure their standard of living in retirement. To read our press release, click here: theia.org/news/press-release…

As we look ahead to the Budget, in partnership with @OpiniumResearch, we have carried out research into attitudes towards and understanding of financial literacy, pensions, and investing across the UK. Our research has found that concerns around retirement grow with age, but younger generations are already reporting higher engagement with and investment into their pensions. As part of our Budget submission we have therefore urged the Chancellor to focus on creating a culture of inclusive investment to improve UK households' financial resilience. This includes boosting pension growth and building on the success of auto-enrolment by recognising that contribution levels of 8% are not high enough for most people, and act now to look at appropriate saving rates for different groups, including the self-employed. To find out more: theia.org/news/press-release…

We are pleased to release the final report from the industry-led Technology Working Group, ‘Artificial Intelligence: Current and Future Usage within Investment Management’. The report outlines current common use cases and examines enablers and barriers for longer-term AI adoption, as well as recommendations for future AI integration in the investment management industry. For the industry as a whole, AI represents a strategic opportunity to increase both the domestic and international competitiveness of the UK’s investment sector and contribute to economic growth. Thanks to @michellescrim , Legal & General Investment Management (@LGIM), for her role chairing the Technology Working Group, and to @hmtreasury, @TheFCA and all Working Group members for their support in completing the final phase of work. To read more click here: theia.org/news/press-release…

Today we have published our annual Investment Management Survey (IMS), including the latest figures on the UK institutional market. Key findings show that as of the end of 2023: 📈 Total UK Assets Under Management (AUM) were £9.1 trillion, with almost three-quarters (73%) of AUM managed on behalf of institutional clients. The largest client group for IA members is pension funds at 32% of AUM, with retail investors accounting for 26% of AUM. 🌍 IA members managed £3.9 trillion in UK institutional client assets globally. Pension and insurance clients make up 82% of institutional AUM. 📊 UK pension fund assets managed by IA members remained at £2.2trn in 2023, unchanged from 2022. 💡 The IA estimates the size of the UK pensions market at £3.8trn in 2023, which is up 2% from the £3.7trn estimated in 2022. These figures come at a key moment for the UK pensions landscape as phase one of the Government’s Pension Review is underway. The IA has outlined a series of recommendations to ensure that reforms undertaken as part of the Government’s Pension Review both deliver better retirement outcomes for the millions of UK pension scheme members and support economic growth – including calling for cultural change that places long-term outcomes over price when defining value, and a better retirement income experience for pension savers. Read more on and find the full report on our website: theia.org/news/press-release…

That's a wrap on The Investment Association's 2024 Brussels Reception, kindly hosted by @SimmonsLLP. We received a fantastic turnout to listen to John Berrigan, Director General for Financial Stability, Financial Services, and Capital Markets Union, @EU_Commission, deliver a keynote address. John shared insights on the incoming Commission's priorities, the advancements towards a unified capital market within the EU, and the current dynamics of the UK-EU financial services relationship. It was also great to hear from Catherine Weeks at @SimmonsLLP on their work with our industry across the EU. During the event, the IA launched 'The Guide to Investment Management in the EU'. For more on the role of the investment management industry in building financial resilience and driving economic growth, please check out the new publication here: theia.org/sites/default/file…

Thanks to Baroness @ruthoporter , @TheFCA’s Stephen Braviner-Roman, @theobertram from @SMFthinktank and Chris Cummings from The Investment Association for a great discussion at Conservative Party Conference on how investment management supports growth.

The Investment Association (IA) Board of Directors welcomes four new members, Paul Geddes, @evelynpartners, Hans Georgeson, @RLAM_UK, Matthew Malloy, @neubergerberman, and Sarah Melvin, @BlackRock. The Board will greatly benefit from their extensive industry experience and expertise as they work to promote and advocate for investment management in the UK. We thank our departing directors, Stephen Bird, Sean Hagerty, Peter Harrison, and Michelle Scrimgeour, for their instrumental contributions to the IA board. To read more, click here:

Our director of Corporate Affairs, Karen Northey, sat down with Dom Lawson at @Ignites to discuss the new government and priorities for the UK investment management industry. Karen talked about the shared ambitions of our industry and government and how investment is at the heart of these - whether that's the transition to net zero, building the long-term financial resilience of individual households, or making sure that UK companies and projects get the capital they need to help the economy grow. She also outlined the need for the government to keep competitiveness in mind, by encouraging innovation and attracting the best talent. Watch the interview here: igniteseurope.com/c/4629704/… To find out more about our priorities, read the IA's Budget submission here: theia.org/news/press-release… #InvestmentMangaement #UKeconomy

With the Autumn Budget fast approaching, we've today called on the Chancellor of the Exchequer @RachelReevesMP to launch an Inclusive Investment Strategy that will bring the benefits of investing to more households, increase investment levels and, channel greater investment into productive capital. Too many people in the UK are taking one of the biggest financial risks of all: taking no risk. This needs to change. We must create a culture of investment that allows more people to benefit from the UK’s position as an international centre for investment management and helps UK households boost their long-term financial resilience. We want to see the Chancellor of the Exchequer @RachelReevesMP on the 30th October undertake to: 💸Reset the approach to risk and bridge the gap between precautionary cash savings and long-term investment, 🕵️‍♂️Reform the UK’s ISA regime to make it easier and simpler for investors, 🔌Supercharge pensions growth to build future financial resilience, 🏦Ensure accessible financial advice for all. To read more, click here: lnkd.in/e-Ma43Fe #autumnbudget

We are pleased that the FCA has listened to industry and granted investment management firms additional time to comply with the SDR investment labelling rules. Our industry has been working hard and at pace to implement the SDR requirements, which will raise standards and improve confidence for investors in the market for sustainable investments. Today's announcement will provide firms seeking to apply labels to funds with the much-needed additional time to work together with the regulator to comply with the new regulation. We will continue to work constructively with the FCA and support our members to meet these deadlines, noting the more limited extension for firms complying with the 'naming and marketing' rules.