The announcement Daniel Godfrey is stepping down as director general of the Association of Investment Companies after 11 years at the helm is an appropriate time to focus on the performance of one of the main trade bodies representing the asset management industry.
Godfrey’s tenure at the AIC has seen the organisation change its name from the AITC and broaden its remit to incorporate the likes of VCTs and other closed-ended companies. For this, Godfrey deserves praise. Because of his sales and marketing background, Godfrey has been acutely aware of the need to present investment trusts as a relevant and modern investment vehicle – something older members of the industry have not always recognised. Periodically, the future of a 200-year-old industry is questioned – sometimes by Investment Week – but Godfrey has played his part in ensuring its con...
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