A trade body for institutional multi-manager businesses launches this month, seeking to promote...
A trade body for institutional multi-manager businesses launches this month, seeking to promote industry standards and encourage take-up of product by investors.
The Association for Institutional Multi-Manager Investing (AIMMI) is looking to promote the concept of multi-manager, to educate trustees and consultants, to maintain standards within the industry and to monitor the activities of members.
The association currently has four members: Attica Asset Management, Axa, Escher Teams and Northern Trust.
'It gives members a voice and a forum to discuss issues,' said AIMMI chairman Tony Earnshaw, who is also managing director of multi-manager products at Northern Trust.
'We also hope that it will serve as a stamp of approval, which would be especially useful for new, smaller players in the industry.'
Earnshaw also said AIMMI aimed to provide leadership in the industry, lobbying, and will organise events. It is running a seminar later this year for pension fund trustees, to explain the concept of institutional multi-manager.
The idea for an association came about after discussion between a number of multi-manager professionals, said Earnshaw.
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