UK/EUROPE – The newly-formed Association for Institutional Multi-Manager Investing (AIMMI) hopes to expand its membership to include continental European players soon, says Tony Bradshaw at Northern Trust Global Advisors in London, one of AIMMI’s founding members.
The association sprung up from its predecessor Association of Multi-Manager Investing (AMMI), and Bradshaw says the new structure is more formal and focused on the institutional market.
“The initial discussions included a number of continental European players with retail as well as institutional remits. But it was difficult to reach agreement, so Northern Trust, Escher, Attica and newcomer Axa Multimanager in London decided to formally establish the association now and expand it later.”
AIMMI’s main objectives are to represent the interests of institutional multi-managers providing services to pension funds, to lobby government and professional bodies on the importance of multi-manager investments, to develop and maintain codes of conduct, to provide training for consultants, trustees and employers on investing in multi-manager funds and to arrange discussion forums.
Adds Bradshaw:” We’re very pleased both to have reached the stage where we have a properly constituted body with defined membership criteria and a realistic focus.”