Schroders and M&G will not exit Investment Association

Extended membership for six months

Schroders and M&G have extended their membership of the Investment Association (IA) for at least another six months, despite previously signalling they intended to leave the trade body at the end of this year.

Investment Week understands the asset managers have renewed their  membership for a temporary period, in order to have input into a number of changes taking place at the organisation and review its progress. They are understood to agree the trade body has started to address concerns raised earlier in the year when they signalled their intention to leave. These include: a reduction in the cost base; improvements in governance with the appointment of a senior independent director; and a renewed focus on key issues like encouraging saving.   The groups have also been encouraged by the...