UK IMA welcomes IOSCO principles for liquidity management

The UK’s Investment Management Association, representing the local asset management industry, has welcomed proposals put forward by IOSCO, the International Organization of Securities Commissions, for improved liquidity risk management in collective investment schemes.

In a letter to Mohamed Ben-Salem at the IOSCO General Secretariat, Karen Bowie, senior adviser Product Regulation at the IMA, said that in a number of areas the IOSCO proposals reflected existing UK rules and guidelines already followed by the IMA’s members, which are responsible for the management of some $6.6trn of assets.

Julie Patterson, IMA director of Authorised Funds and Tax, added in a separate comment on the proposals that : “We note, though, that it is in the best interests of investors for IOSCO’s principles to cover periods of both high inflows and high outflows, and that managers should have the tools to manage both scenarios.”

The full letter can be read here: Liquidity Risk Management

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