FAQs
Frequently asked questions
Who are the IMA? What does the IMA do?
What are the benefits of full membership of the IMA?
Who is eligible for membership?
Can I negotiate/have a trial membership of the IMA?
As a smaller member, am I going to be able to make my voice heard?
Can I piggy back on the membership of other parts of my organisation?
What can the IMA do me for me that my membership of other trade associations doesn't already do?
What is the IMA's track record?
How can I participate in IMA events/ committees?
Who does what at the IMA? How is the IMA qualified to represent our interests?
Who are the IMA? What does the IMA do?
The Investment Management Association is the trade body for the UK asset management industry, representing around £3.9 trillion funds under management. It includes managers of a wide range of assets, including segregated mandates and authorised and unauthorised funds.
IMA's primary purpose is to make representations to Government, to regulators and to legislators on behalf of members on issues affecting investment funds and asset management. It seeks to be the first port of call for the authorities seeking information and advice about the industry and the potential impact of possible changes to the legislative, regulatory or fiscal environment. It also seeks to increase public awareness and understanding of investing in funds.
What are the benefits of full membership of the IMA?
Full membership of the IMA opens doors for firms to influence the debate with government and regulators, both in the UK and across Europe, with an authoritative and co-ordinated voice.
Membership brings a host of other benefits such as:
- Authoritative and timely briefings from IMA on topical issues
- The chance to contribute to the formulation of industry responses to government and UK, EU and international regulators
- The opportunity to campaign and strengthen the position of members operating or wishing to operate at a pan-European level
- Representation on IMA committees
- Open meetings on topical issues
- A 'help-desk' facility on issues of the day
- UK investment fund statistics allowing benchmarking against the rest of the industry
- Seminars for training and HR to share good practice
- Warm leads via the Association's public information service, which distributes contact details of its retail members to enquirers
- The opportunity to network with other member companies
- Participation in the development of a dialogue with the media and parliamentarians to promote a better understanding of the industry
Subscriptions are based on market share for full members and a flat-rate fee for affiliates of £10,000 a year.
Who is eligible for membership?
IMA has three categories of membership - "full", "affiliate" and "sector". Full members are firms which undertake investment management in the UK and/or operate UK authorised investment funds. The Association's full membership is made up of 185 investment management companies. These include stand-alone investment management groups, the investment management arms of insurance, banking and investment banking groups, independent niche providers and managers of occupational pension schemes.
Affiliate membership is available to companies providing facilities or services to full members of the Association. Affiliate members include overseas investment managers, fund supermarkets, third party fund administrators and accountants, data providers, consultants, and accountancy and law firms. Affiliate members have full access to the IMA website and member circulars, as well the ability to participate in most of the activities of the IMA.
Sector membership is very limited and designed for those firms who do not wish to participate in any wider industry activities at IMA but wish only to have funds admitted to the IMA Sectors.
Can I negotiate/have a trial membership of the IMA?
This is not possible, but should you wish more information than is publicly available IMA's Membership Officer would be happy to demonstrate the benefits available.
As a smaller member, am I going to be able to make my voice heard?
Yes. The IMA Board has to have an appropriate balance of members and this includes ensuring representation from smaller members. We also seek to ensure that all Committees are balanced between types of member. In particular, smaller members tend to find that they benefit from the technical support and expertise offered by IMA, as well as attendance at discussion groups. All members also have an opportunity to input to our lobbying positions and submissions to consultations.
Can I piggy back on the membership of other parts of my organisation?
This is not possible. As our subscriptions are based on market share, your figures would need to be included for you to have access.
What can the IMA do me for me that my membership of other trade associations doesn't already do?
The IMA is the principal trade body for the UK asset management industry so is clearly focused. IMA has good relations with other trade associations and where there are areas of mutual interest good collaboration exists, in particular seeking to ensure that there is not unnecessary overlap.
Influencing regulators and policy-makers:
- We put forward ideas for a single market in asset management in 2003. Since then, we ran a lobbying campaign to make this a reality. As a result, in 2010 we will have a truly single market in asset management bringing with it more opportunities for Europe's investors and the industry.
- We published two reports with a series of recommendations on the impact of the UK's tax regime on authorised investment funds. Following extensive lobbying and behind-the-scenes discussions we have secured many positive and beneficial changes to the tax regime for authorised funds. These have improved the competitiveness of UK funds.
- IMA was an active participant in the policy debates that followed on from the credit crisis. We strongly supported the need for an explicit framework of powers to protect depositors and address bank failures, and proposed the formation of the Banking Liaison Panel, participating on its expert groups.
- IMA regularly works behind-the-scenes with regulators and government departments to shape and improve legislation affecting the industry.
An established authoritative source of information on the UK industry:
- We have access to and publish on an annual basis the most authoritative survey of the industry.
- We publish monthly fund sales and funds under management statistics broken down by sector and sales channel.
- We run successful business awareness seminars for regulators and government officials to help educate them about the industry and the importance of its role in the economy.
- A source of thought leadership:
- We have published research and a discussion paper on alternatives to annuities.
How can I participate in IMA events/Committees?
IMA operates a policy of Committee members serving three years and then stepping down, in order to allow as many members as possible with the appropriate expertise to get involved. We seek to ensure that committee membership is spread among as many members as possible.
We also have a number of regular discussion groups for full members on a range of areas including compliance, legal, authorised funds, risk management, tax and parliamentary affairs.
All members and affiliate members are eligible to attend the main IMA events - members' meetings, AGM, Annual Dinner and Christmas Drinks Party.
Amongst the staff at IMA are experts on regulation, legal, tax, accounting, operations, communication, public affairs, research, statistics, training and education. See Who's Who.
You can speak to the IMA membership secretary who will talk you through the benefits and send you a membership pack. Or you can fill out the form for either full,affiliate or sector membership.