The proposed merger between the Autif and its institutional equivalent, Fund Managers Association (F...
The proposed merger between the Autif and its institutional equivalent, Fund Managers Association (FMA), will result in two executive committees to ensure that smaller fund management groups are not disadvantaged.
The combined entity, which the groups hope will be in place by the start of February, will have one board, with one overall chairman and deputy chairman. Who will take these roles is yet to be decided.
Under the overall board will be two executive boards, one dealing with collective investment schemes and one dealing with institutional fund management concerns.
That, according to Dick Saunders, director general of Autif, means smaller groups will not see their voices swamped by larger institutions.
Saunders also said the structure met concerns from members of both groups that their agendas are not diluted.
EGMs will be held in January, Saunders added, although member meetings are being held in the coming weeks.
No name has yet been agreed for the combined entity.
Developed by industry-wide group
Joined in 2002
'Educate clients' children'
Raised £15m earlier this week
From 8pm Friday 19 October