IMA response on UCITS V vote

03 July 2013

The IMA notes the results of the vote in the European Parliament on UCITS V and believes that investors are well served by the outcome, which delivers strong alignment between the interests of clients and those of asset managers.

Daniel Godfrey, IMA Chief Executive, said: “Clear alignment with client interests and outcomes is fundamental to the asset management industry’s ability to support savers and the wider economy. The European Parliament has voted for proposals that drive true alignment between asset managers’ pay and the interests of our clients including: multi-year assessment for variable remuneration, to drive longer-term thinking; multi-year deferral, to enable clawback if things go wrong; and a requirement for asset managers not only to disclose their remuneration policies, but also to say how those policies meet the objective of aligning to client outcomes.

We look forward to continuing to work with all stakeholders as the UCITS V process progresses.”

Press release

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