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The Actuary The magazine of the Institute & Faculty of Actuaries

Tomlinson sets agenda

‘I see investment management as a first-generation industry which has enjoyed tremendous growth because of its inherently attractive features, but which has not previously experienced a major downturn’, said chairman Lindsay Tomlinson to the annual meeting of the Investment Management Association recently. ‘It seems therefore that we are at a crossroads and we have to make some tough choices in the way we respond to criticisms and how we move forward.’

Setting out what he believes the IMA should stand for, Mr Tomlinson pointed to the principles which he believes should guide the industry:

  • transparency – the industry’s key strength;
  • customer focus – meeting the needs of the consumer;
  • professionalism – openness, fairness, value for money, integrity, expertise, going beyond mere compliance with the letter of regulation;
  • efficiency – offering clients best value for money;
  • responsible stewardship of the nation’s assets;
  • accountability – establishing effective dialogue with government and investee companies. (‘If we don’t regard ourselves as accountable and act as such, others will impose accountability on us’, Mr Tomlinson concluded.)