The Association of Investment Companies
Purpose:
The Association of Investment
Companies (AIC) is the trade organisation for the investment company
industry. The AIC aims to help its members add value for shareholders over the
longer term.
Membership: Investment
company boards. The AIC represents a broad range of closed-ended investment
companies, incorporating investment trusts, other closed-ended investment
companies and Venture Capital Trusts (VCTs).
Founded: 1932,
originally the Association of Investment Trust Companies but changed its name in
2006
Based:
24 Chiswell Street , London
Structure: The AIC's
Board is the main decision-making body of the AIC. There are 12 directors who
sit on the AIC board and these are: member directors, fund management group
representatives and other industry representatives as well as the AIC’s director
general. An election takes place each year where AIC members elect and then vote
for future board members.
Director General: Daniel Godfrey
Activities: The AIC
assists its membership by working in four major areas:
- Public Affairs
The AIC monitors and analyses the political and regulatory developments that
affect investment companies and their boards and aims to ensure the best
regulatory, tax and legislative environment for investment companies. This
involves lobbying government and regulators in the UK and EU.
- Technical Advice
Technical support and guidance is provided to members and their advisers in
areas such as accounting, tax, company law and regulation.
- Communication and Information
The AIC aims to enhance the awareness and reputation of the investment
company sector through proactive media and industry engagement, developing
recognised standards and providing investment company information and
statistics.
- Director Services
The AIC promotes high standards within the industry and publishes guides and
industry information for boards and their advisers on emerging issues and
trends. The AIC hosts an annual conference, roundtables and other forums to
enable directors and their advisers to update their knowledge of industry
issues and to exchange views.
Connections with other organisations: Part of the Institutional Shareholder Committee (ISC)
made up of other major institutional shareholder bodies, the
National Association of Pension Funds, the
Investment Management Association and the
Association of British Insurers. The ISC produced a
statement of principles on shareholder activism in
October 2002.
Position towards government: Like other
trade bodies seeks to influence government, as well as the Financial Services
Authority, in all areas that affect the investment industry.
Links
The Association of Investment Companies
National Association of Pension Funds
Investment Management Association
Association of British Insurers
Statement of Principles on Shareholder Activism
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