A spokesperson for the Investment Association said: “We are delighted that M&G and Schroders have agreed to a temporary continuation of their membership of the Investment Association whilst discussions about the IA’s governance and priorities are held by the association’s board.”
The two firms were reported in October by Sky News to be reconsidering their memberships, which were up for renewal following a number of changes at the Association.
Two days after the reports, and further rumours that Aberdeen Asset Management, Fidelity Worldwide Investment, and Invesco Perpetual are considering making an exit as well, then CEO, Daniel Godfrey resigned.
Godfrey was replaced in an interim capacity by Guy Sears.
The IA which has only existed in its current form since January, when it rebranded from the Investment Management Association following last year’s merger with the Investment Affairs team at the ABI, has been at pains to change the way it is seen and the role it plays within the sector – undergoing not just a merger but a significant rebrand as well earlier this year.
