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Published Articles
FTfm Talking Head - ten lessons
It is too early to predict an end to the turmoil. It is never too late to apply lessons learned.
Robert Jenkins, Chairman
October 2008
Financial Adviser - Structured Products
Four weeks ago the Daily Telegraph published a little article I had written suggesting that the disclosures around structured products are not up to the same standard as those for mutual funds. What a lot has happened since.
Richard Saunders, Chief Executive
October 2008
Investment Adviser - Structural Failure
Many would design their own investments upon the following lines: to reduce or remove risk; enhance and maximise returns; and minimise or take out all fees and commissions. Intelligent structured investments come close to delivering the approach that investors would choose for themselves.
Richard Saunders, Chief Executive
October 2008
Money Marketing: Commentary for Money Marketing - Reduction in Yield
In case it passed you by over the summer, the Financial Services Authority has used one of its snappily titled "Quarterly consultations" to try and make the case for retaining the Reduction in Yield (RIY) figure to show consumers how much an investment costs.
Mona Patel, Head of Communications
October 2008
Daily Telegraph - Fundamentalist Article
In turbulent times we all need some shelter from the financial market weather. Recent years have seen not only strong growth in the traditional safe havens of bonds and cash, but also the newest kids on the block: structured products.
Richard Saunders, Chief Executive
September 2008
Money Marketing: The IMA Great British Investors Survey Report
IMA surveyed almost 3500 retail investors in May to find out what they thought about current market conditions and how, if at all, it had affected them - we surveyed a range of investors ranging from those who consider themselves sophisticated to those who have limited financial knowledge.
Mona Patel, Head of Communications
September 2008
Financial Times: Letter to the Editor
The interim report by Sir James Crosby on the current state of mortgage finance is well written and well timed. His warning that solutions will be neither easy nor quick is sad but true.
Robert Jenkins, Chairman
August 2008
Money Marketing: Commentary for Money Marketing - Changes to IMA Fixed Income Sectors
For those of you who have been eagerly awaiting the outcome of the review of the IMA Fixed Income Sectors, the wait is over.
Mona Patel, Head of Communications
July 2008
The Times - Letter to the Editor
Dear Chancellor,
Credit is in short supply these days - literally and figuratively. As the market struggles with "the great unwind" the bankers at the source of the fiasco point the finger at everyone but themselves. The UK authorities have proven particularly juicy targets.
Robert Jenkins, Chairman
July 2008
Financial Times: "The banks are bust - but don't tell anybody!"
With two reforms in the pipeline - a beefed up depositor protection system and special powers to deal with failing banks - the Chancellor was on track to repair a damaged system.
Robert Jenkins, Chairman
July 2008
Professional Adviser: Letter to the Editor
Inflation? George Bush in London? John Gieve's departure from the Bank? No, last week's "Professional Adviser" undoubtedly had the headline of the week for me:
"Structured Products Committee formed with call for comparable ‘IMA' sector".
Richard Saunders, Chief Executive
June 2008
Financial Times FTfm: Talking Head
As we approach the first anniversary of the global credit crunch a few things are becoming clearer. In a few weeks IMA will be publishing its latest survey of the UK industry. This will identify some of the longer term effects of the credit crunch (or maybe liquidity squeeze).
Richard Saunders, Chief Executive
June 2008
Complinet: Data, data everywhere but not a drop to drink
Post-trade transparency in equities in the UK - in the eyes of a buyside equity dealer, the frustration and cost it brings arguably outweigh the current impact of the liquidity crisis. And if you think that is hyperbole, I assure you it is not, and that it will impact you at some point if you have an investment or a pension.
Guy Sears, Director, Wholesale
June 2008
Professional Pensions: Local Government Pension Scheme Investment
Will the findings of the Chartered Institute of Public Finance and Accountancy (CIPFA) survey of LGPS practitioners provide the catalyst for the Government to review the LGPS Investment Regulations?
Christiane Valansot, General Counsel
June 2008
Professional Pensions: How to make a success of Personal Accounts
With the consultation on charging structures, the Personal Accounts Delivery Authority (PADA) has begun a series of detailed public discussions about how Personal Accounts should be set up.
Jonathan Lipkin, Head of Research
May 2008
Investment Adviser - IMA Sector Classification
It is no secret that IMA sectors are subject to criticism from time to time and they have been generating a lot of attention recently. The last few months have seen the IMA receive an influx of suggestions to change sector definitions, close down sectors, and create new sectors.
Jane Lowe, Director, Markets
May 2008
The Evening Standard: Letter to the Editor
In his column ("Don't blame us for the savings gap", Wednesday 14th May), Anthony Hilton states that, even in periods when the stock market rises, the average return on investors' savings is less than half the improvement in the market.
Robert Jenkins, Chairman
May 2008
Professional Pensions: More Choice for Retirement Income
With the need for people to start saving for their retirement becoming increasingly urgent, the Government has had to adopt a radical approach in order to try and encourage the UK to become a nation of savers
Jonathan Lipkin, Head of Research
April 2008
Professional Pensions : "The Way Ahead"
Looking to the future it is clear that pension provision is going to look very different from today. Over the last few years we have already begun to witness the long term growth of defined contribution (DC) schemes and the steady decline of defined benefit (DB) schemes
Mona Patel, Head of Communications
April 2008
Money Marketing: Commentary for Money Marketing IMA Sectors
The clamour for sector changes seems to have reached a crescendo recently with lots of suggestions being fired in IMA's direction. These include calls for definition changes, new sectors and wholesale reviews.
Mona Patel, Head of Communications
April 2008
Will the Bank of England facility facilitate the flow of banking liquidity? Will a boost to banking liquidity address the current credit crisis? Are we solving a problem or prolonging one?
Robert Jenkins, Chairman
April 2008
Financial Times: IMA Reaction to Budget
The Investment Management Association (IMA) and asset management industry have much to welcome in today's Budget.
Julie Patterson, Director - Authorised Funds and Taxation
March 2008
Financial Times FTfm- Time for a rethink on annuities
Probably the last thing Chancellor Alistair Darling wants is more advice about what to put in his first Budget later this week. But there is one issue which is too important to let lie.
Richard Saunders, Chief Executive
March 2008
Professional Pensions: Pensions Bill
The seemingly never-ending story of personal accounts moved on a stage in January as the bandwagon rolled into the next stop - House of Commons Committee Stage.
Mona Patel, Head of Communications
March 2008
Money Marketing: Greater Flexibility and Choice for Retirement Income
Much of the debate around pensions has focused on the savings side - how much should individuals save for retirement and where and how should they save it? But there has been little attention paid to what happens once people retire
Mona Patel, Head of Communications
March 2008
Professional Pensions: Meat or Bitter Poison?
Lucretius made the point in his philosophical poem that ‘what is food to one, is poison to another'. Broadly, he related the different reactions to substances to the differing composition and structure of different animals.
Guy Sears, Director, Wholesale
February 2008
Money Marketing: Investment Fund Annual Stats
If you'd read the headlines about the investment funds' industry sales for December you'd be forgiven for thinking everything was doom and gloom and that investors were selling up hand over fist. Not so.
Mona Patel, Head of Communications
February 2008
Professional Pensions: 2008 Pensions Bill is only the Beginning...
Over the next few months, much attention will be focused on the new Pensions Bill. However, a range of wider issues are raised by the Government's endorsement of semi-mandatory saving in defined contribution schemes.
Jonathan Lipkin, Head of Research
January 2008
Money Marketing: Retail Distribution Review
Eighteen months ago the Retail Distribution Review was launched with an air of expectation. The first phase has now come to an end and by the time you read this the FSA will be buried under a sea of responses in an attempt to decide what to do next.
Mona Patel, Head of Communications
January 2008