IMA WELCOMES GOVERNMENT'S COMMITMENT TO ENHANCE UK ASSET MANAGEMENT INDUSTRY

Responding to the Chancellor's announcement in today's pre-Budget report that the Government is committed to maintaining the UK Asset Management Industry's competitive position, Richard Saunders, Chief Executive of the Investment Management Association, said:

"The Government has taken welcome steps in recent years which have helped enhance the competitiveness of the UK's asset management industry.

The industry is a fundamental pillar of financial services and the recent Treasury-led Working Group has further shown the Government's commitment to working closely with us and to ensure that the UK remains a global centre for asset management."

-ENDS-

Notes to Editors:

• The Treasury's Asset Management Working Group Report, "Asset Management: the UK as a global centre". Can be viewed here: http://www.hm-treasury.gov.uk/d/fin_assetmanagement_091109.pdf
• IMA's response to the Asset Management Working Group can be viewed here: www.investmentuk.org/press/2009/20091109.asp

About the Investment Management Association
The IMA is the trade body for the UK's £3 trillion asset management industry.  The money its members manage is in a wide variety of investment vehicles including authorised investment funds, pension funds and stocks and shares ISAs.  Its role is to represent the industry and promote high standards. /

For further information, please contact:
Noreen Shah, Press Officer, IMA, 020 7831 0898
Ginny Broad, Head of Communications, IMA, 020 7831 0898 or 07834 089332

Email: press@investmentuk.org