We've collated a list of industry associations and government bodies who support, advocate for, and report on each country's investment management industry.
To generalize from the mission statements of these assocations, their key purpose is as lobby groups to engage regulators on regulatory issues, and manage public perception of their industry. Often, and in particular for Asian assocations, their role also entails standard setting and enforcement among their members. Lastly, they may support their local industry through data and publications and workshops covering topical issues. In all, their responsiblity is to protect the common interests of their members.
International - International Investment Funds Association (IIFA): IIFA is an international association of country-level association members: membership is open to open to any country with a recognized investment funds association or an identifiable investment funds industry and an appropriate representative. It recognizes the important role of investment funds globally and the responsibilities of such funds to their investors. Its goals are to: (1) advance the interests of investment fund investors; facilitate the continued growth of the investment funds sector internationally; promote public understanding of investment funds around the world; and (4) encourage adherence to sound practices and high ethical standards by all participants in the investment funds industry. It also publishes global statistics on open-ended funds.
United States - Investment Company Institute (ICI): ICI's mission is to strengthen the foundation of the asset management industry for the ultimate benefit of the long-term individual investor by (1) building a strong foundation for the industry by helping to strengthen policy and regulatory frameworks and encouraging sound governance, operational, and fiduciary practices; (2) serving as a focal point for collaboration among members in proactively addressing the industry’s most critical strategic issues and in setting robust standards that help the industry grow in a sustainable way; and (3) advancing the interests of the individual investor through education and expanding access to regulated funds and other professionally managed products that help them meet their financial goals.
Europe - European Fund and Asset Management Association (EFAMA): EFAMA is a pan-European, non-profit trade association that represents the interests of the EUR 28.5 trn European investment management industry. Its mission is to (1) foster optimal conditions for the European fund and asset management industry in its efforts to create value for investors; (2) influence and support the ongoing development of the regulatory environment including the European Single Market advocate for the interests of its Members among stakeholders; (3) build confidence and trust in the industry; and (4) promote scientific research concerning the industry. EFAMA is a primary source of industry data and issues regular publications, including the EFAMA Fact Book. Its annual conference, the Investment Management Forum, is regarded as the premier European gathering for senior industry executives and policy-makers.
United Kingdom - The Investment Association: The Investment Association acts as the voice of its members, and represents their interests to policymakers and regulators, and helps explain to the wider world what the industry does. Its members, from small, independent UK investment firms to Europe-wide and global players, collectively manage over £10 trillion of assets.
Germany - Bundesverband Investment und Asset Management e.V. (BVI): BVI is the industry association representing the interests of the German asset management firms vis-à-vis politicians, supervisory authorities and international institutions. As such, it advocates a sensible regulation of the AM industry nationally and internationally business and fair competitive conditions. It organises the industry's collective decision-making process. Its members also include German branches of foreign AMs, which account for about 40 percent of the membership. BVI has grown rapidly in recent years. BVI represents the interests of 117 fund companies and asset managers with EUR 4 trillion managed by its members.
France - Association Française de la Gestion financière (AFG): The AFG is the French association dedicated to the investment management industry. It represents investment management companies, entrepreneurial or subsidiaries of banking or insurance groups, both French and foreign. Its mission is to inform, assist, and educate the actors in the third-party asset management industry, providing continuous support in legal, fiscal, economic, accounting, and technical domains.
Japan - Investment Trusts Association, Japan (ITA): ITAJ is the primary industry association for investment trusts in Japan. ITA focuses on maintaining industry integrity, ensuring regulatory compliance, and promoting investor protection within the Japanese investment trust sector. More specifically, its activities include: (1) guidance for members to comply with the laws and regulations when engaging in investment management business; (2) research, guidance and recommendations for investor protection; (3) recommendation of fair practices in transactions such as sales and redemptions; (4) settlement of complaints from investors concerning the investment trust management business or the transactions such as sales and redemptions; (5) recommendations on advertising; (6) educational; (7) research and information exchange; (8) promotion of the mutual understanding and the adjustment of opinions among members or between members and the relevant associations; (9) recommendations, requests and communications to competent authorities and other relevant bodies; and (10) contribution to the development of the global fund industry as a member of the IIFA.
Canada - Portfolio Management Association of Canada (PMAC) and Investment Funds Institute of Canada (IFIC): PMAC represents over 300 portfolio management firms who collectively manage more than CAD2.9 trillion of assets. Its objectives are to advocate members’ views to securities regulators and other government agencies; (2) increase public awareness of independent portfolio management and its benefits; (3) povide valuable business services to members; and (4) maintain a forum for member networking. IFIC is the voice of Canada’s investment funds industry. Its efforts as industry advocates is aimed at strengthening the integrity of the investment funds industry, fostering public confidence in investment funds, and enabling investors to achieve good outcomes via public policy advocacy, research, data collection, and training. It comprises 150 organizations including fund managers, distributors and industry service organization, and covering 87% of mutual fund AuM.
Switzerland - Asset Management Association Switzerland (AMAS): AMAS is the representative association of the Swiss asset management industry. It aims to strengthen Switzerland’s position as a leading center for asset management with high standards of quality, performance, and sustainability by supporting its members in developing the Swiss AM industry and adding value for investors over the long term. AMAS is an active member of the EFAMA and IIFA and has around 200 members.
Italy - Italian Association of Asset Management Companies (Assogestioni): Assogestioni represents 270 members including the majority of Italian asset management companies and foreign investment management companies operating in Italy, various banks and insurance companies operating in the field of individual management and supplementary pensions. The association assists its members by offering consultancy and technical support on legal, fiscal and operational issues; and promotes constant dialogue with sector operators and institutions on the topics of investment, savings protection, corporate governance and innovation regulatory and operational nature of the industry. Assogestioni is a member of EFAMA.
South Korea - Korea Financial Investment Association (KOFIA): KOFIA oversees a broad set of industry areas as the sole self-regulatory organization of the Korean financial investment industry. KOFIA maintains the Self-Regulation Committee (SRC), which makes decisions on regulatory enactments and revisions, enforces compliance with regulations among member firms and individuals and other self-regulatory activities. Its main areas of self-regulation are: (1) enacting regulations and codes of best practices for fair business activities; (2) reviewing standard agreements and advertisements; (3) conducting inspections of members; (4) registering and administering qualification exams for financial professionals; and (5) mediating disputes between member companies and their customers.
Spain - Instituto de Vovilizar y Regular las Pensiones de las Entidades Gestoras de Fondos de Inversion y Fondos de Pensiones(INVERCO): INVERCO, which translates to "Institute for the Promotion and Regulation of Pension Funds and Investment Fund Management Companies", is the association of collective investment institutions and pension funds. Its members comprise practically all Spanish investment funds and investment companies, Spanish pension funds, and registered foreign collective investment institutions in Spain, as well as to various associate members. Inverco's goals are to: (1) represent the interests of collective investment Institutions and pnsion funds before public administrations and, in general, before any representative organization; (2) coordinate for the benefit of all members; (3) defend the members' interests; and (4) establish and foster relationships with other Spanish or foreign entities, as well as participate in national or international business organizations.
India - Association of Mutual Funds in India (AMFI): AMFI's mission is to develop the Indian mutual fund industry over professional, health, and ethical lines, and to enhance and maintain standards with a view to protecting and promoting the interests of mutual funds and their unit holders. AMFI, the association of all the asset management companies of SEBI registered mutual funds in India is a non-profit organisation with 44 members.
China - Asset Management Association of China (AMAC): AMAC is a self-regulatory organization of the investment management industry in China. It accepts the business guidance and supervision of the China Securities Regulatory Commission and the Ministry of Civil Affairs. According to the Securities Investment Fund Law of the People's Republic of China, fund managers and fund custodians should join the association, and fund service institutions can join the association. The main responsibilities of the association are to: educate and organize members to abide by laws and administrative regulations related to securities investment, and safeguard the legitimate rights and interests of investors; safeguard the legitimate rights and interests of members in accordance with the law, reflect members’ suggestions and requirements; formulate and implement industry self-discipline rules, supervise and inspect members and the professional behavior of its employees; formulate industry practice standards and business specifications, organize professional examinations, manage qualification and business training for fund practitioners; provide member services, organize industry exchanges, promote industry innovation, carry out industry publicity and investor education activities; mediate fund business disputes between members and between members and customers; handle the registration and filing of non-publicly raised funds in accordance with the law; and other matters stipulated in the association's articles of association.
Brazil - Brazilian Financial and Capital Markets Association (ANBIMA): ANBIMA represents the Brazilian financial and capital markets, including the asset management sector. ANBIMA focuses on promoting best practices and regulatory advocacy.
Australia - Financial Services Council (FSC): FSC is a leading industry association in Australia, representing the financial services sector, including asset management. In its representation of the Australian funds management industry, the FSC supports policy setting principles that enhance market integrity and efficiency; promote sound corporate governance practices in the funds management industry; and, maintain and increase consumer confidence in the funds management industry.
Austria - Vereinigung Österreichischer Investmentgesellschaften (VÖIG): VÖIG
is the umbrella organization for all Austrian investment management companies (VWG) and all Austrian real estate investment companies (Immo-KAG). VÖIG represents 100% of the assets managed by Austrian VWGs and Immo-KAGs. European management companies may also become members. The purpose and mission are to promote domestic investment and to provide comprehensive support to its members. To this goal, VÖIG participates in the assessment of national and international (primarily European) regulations that affect the interests of its members; maintains constant communication with ministries, authorities, as well as the Austrian Economic Chamber (WKÖ); and, exchanges information with national and international organizations and associations. VÖIG is a member of EFAMA.
Singapore - Investment Management Association of Singapore (IMAS): IMAS is a representative body of investment managers in Singapore. Its mission is to encourage the development of the industry in Singapore by fostering high standards of professionalism amongst practitioners and creating public awareness of, and interest in the industry.
Middle East - Middle East Investment Management Association (MEIMA): MEIMA is the trade body and industry voice for the Middle East’s leading investment managers. Its members range from small, independent investment firms to large global firms. MEIMA acts as a single voice to represent their interests to policymakers and regulators, and helps explain to a wider audience the role of the industry. MEIMA's mission is to support, champion and advance the growth and development of the asset management industry in the Middle East.
Russia - National Association of Stock Market Partcipants (NAUFOR): NAUFOR is a non-profit self-regulatory organization in the Russian financial market, which is supervised by the Bank of Russia. Membership in for Russian financial companies is mandatory. It covers activities of brokerage, dealer, securities management, depository, activities of the management company, investment consulting, activities of specialized depositories, activities of registrars.
Ireland - Irish Association of Investment Managers (IAIM): IAIM represents the ivestment management industry in Ireland. Its objectives are to (1) represent the members and the investment management industry in Ireland to relevant corporate, political, regulatory, media and other stakeholders; (2) encourage responsible best practice among member firms and other stakeholders; (3) develop the business environment for firms to encourage the growth of the industry; (4) facilitate networking, knowledge-sharing and collaboration among members; and (5) pomote and market Ireland as an international centre for investment management activity.
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