Information: For immediate release Friday 30 April 1999

ALAN AINSWORTH ELECTED AS CHAIRMAN OF THE ASSOCIATION OF UNIT TRUSTS AND INVESTMENT FUNDS

At yesterday’s Annual General Meeting of The Association of Unit Trust and Investment Funds (AUTIF), Alan Ainsworth, Deputy Chairman of Threadneedle Investment Services Limited, was formally elected as Chairman. His appointment starts with immediate effect and will continue until April 2001. He succeeds Lewis McNaught, Managing Director of Gartmore Fund Managers Limited.

The election of four new Executive Committee Members was also announced yesterday. Hill Samuel, M&G, Mercury and Save & Prosper, replace those retiring by rotation, Barclays, Gartmore, Midland and Perpetual.

For further information please contact:
Alan Ainsworth, Chairman, 0171 464 5730
Philip Warland, Director General, AUTIF, 0171 831 0898
Anne McMeehan, Director of Communications, AUTIF, 0171 831 0898
Clare Arber, PR Manager, AUTIF, 0171 831 0898

Notes to Editors:

Alan Ainsworth joined Threadneedle in February 1995 as Managing Director – Retail and subsequently Managing Director, Europe, where he was responsible for the highly successful launches of both the Threadneedle businesses. He has previously worked for BUPA, Fidelity, John Govett & Co and Save & Prosper.

At each alternate AGM, as laid down by the Association’s Constitution, the Executive Committee nominates a representative of a Member Company to preside as Chairman of the Association.

The full Executive Committee now comprises the following: Aberdeen Prolific, Britannia, CGU, Fidelity, Henderson, Hill Samuel, Laurence Keen, Lazards, M&G, Mercury, Prudential, Save & Prosper, Scottish Widows, Standard Life, and with the Chairman is added Threadneedle.

AUTIF represents 138 unit trust companies which between them manage more than 99% of the industry’s funds under management.