Investment Company Institute launches global trade association

The Investment Company Institute (ICI) has launched ICI Global, a London-based trade association focused exclusively on globally active funds – including regulated US and non US funds.

ICI Global has picked Dan Waters as its managing director, following 12 years working at the UK’s Financial Services Authority directing asset management policy.

Jamie Broderick, head of JP Morgan Asset Management in Europe, has been appointed chair Steering Committee

The organisation has four key priorities:

   – The role of funds and fund managers in financial stability

   – Key transnational regulatory developments for funds

   – Global trading and market structure policy developments

   – Retirement savings and pension systems.

ICI intends to conduct dialogue with all relevant national and transnational regulators, advocating regulatory policies that promote funds as long-term investing vehicles.

Groups that have already committed to join ICI include: Capital Research and Management, Federated Investors Funds, Franklin Templeton Investments, Goldman Sachs Asset Management, Invesco, JP Morgan Asset Management, Legg Mason, Nuveen Investments, PIMCO Funds, T. Rowe Price, Threadneedle and Vanguard.

ICI Global stands in contrast to ICI, the association representing US asset management companies.

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