For Immediate Release: Friday 18 August 2000

AUTIF CHIEF TO MOVE ON

After almost ten years at the helm of the Association of Unit Trusts and Investment Funds (AUTIF), Director General, Philip Warland, has decided to leave.

Alan Ainsworth, Chairman of AUTIF stated:

"Clearly we are sorry that Philip has made this decision, but at the same time we fully understand the reasons behind it and wish him well.

Philip has played an enormous role in reshaping and developing the Association and his contribution to the investment funds industry during his tenure has been of inestimable value. But he has been carefully considering the next stage of his career and feels that the time is right to make a move. He will be leaving an Association with an experienced and well-established management team, clear in its priorities and well placed to meet the challenges that lie ahead.

Finding a successor is now our priority and above all else we intend to ensure that this appointment is as forward-looking as was Philip’s some ten years ago."

The recruitment process will start in mid-September with the project headed by the Chairman. Alan Ainsworth has made clear his intention to consult widely with the membership of the Association.

Philip Warland is unlikely to leave his post as Director General until the end of the year. AUTIF is unable to make public the name of the organisation he will be joining, but the opportunity that has presented itself will be making full use of his accumulated experience, whilst offering him greater flexibility in terms of time commitment.

For further information please contact:

Alan Ainsworth, Chairman, AUTIF - +44 (0)20 7464 5730
Philip Warland, Director General, AUTIF - +44 (0)20 7831 0898
Anne McMeehan, Director of Communications, AUTIF - +44 (0)20 7831 0898
Clare Arber, PR Manager, AUTIF - +44 (0)20 7831 0898