Revamp and name change for the AITC

The AITC intends to change its name to reflect the growth of the offshore closed ended funds industry and plans to revamp its membership fee structure later this year. While the body has yet to finalise its new name, it is likely it will drop the word 'trust' to become the Association of Investment Companies (AIC). The change is scheduled to take place at the start of October. Daniel Godfrey, director-general of the AITC, said in recent years growth in the UK-listed investment company sector has come largely from offshore-domiciled investment companies, which are not necessarily investme...