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Press Release

For Immediate Release: Wednesday 9 June 2004 

Investment Management Industry "Rising to the Challenge"

Speaking at the Investment Management Association's AGM Dinner, Lindsay Tomlinson, Chairman, said the investment management industry was rising to the challenge of the six key guiding principles he set out last year,

" We said that firms operating in our industry should adopt six key principles that we believed should guide the industry. We put them forward as guide posts for our member firms and we have sought to follow these principles in all of the activities of the IMA itself. The six principles are transparency, customer focus, professionalism, efficiency, responsible stewardship and accountability.......I believe that the industry and our Association have adopted these principles and are rising to the challenge. Recovering investment markets obviously help enormously, but in addition to that the lessons of the previous three years have not been lost."

Mr Tomlinson ended with a comment on the "barrage of regulations and reviews" and the impact it might have on mainstream investment, warning that "...we are in the process of segmenting our economy into a highly regulated and bureaucratic publicly quoted sector and a free-wheeling lightly regulated private company and hedge fund sector."

The full text of the speech is attached.

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