AIC welcomes government’s landmark pensions review
Investment companies can be part of the solution.
Commenting on the announcement of the government’s landmark pensions review, Richard Stone, Chief Executive of the Association of Investment Companies (AIC), said: “Investment companies are perfectly placed to be part of the Chancellor’s ‘big bang’ to drive growth.
“With their permanent capital structure, investment companies can invest with ease in UK infrastructure, the net zero transition and high-growth unlisted companies. They are tried and tested vehicles for investing in the kind of productive assets the government wants to support, and they have a 150-year history of delivering for investors.
“The first stage of the review will examine actions to support greater productive investment and better retirement outcomes. The review should consider how to overcome barriers to the use of investment companies, such as misleading cost disclosures. It should also consider a range of measures to reinvigorate capital markets, such as the abolition of stamp duty. The charge cap on pension default funds should also be reviewed, as it is a barrier to investing in productive assets.
We’re supportive of the government’s efforts to release the untapped potential in our pensions markets to drive investment in the UK. We’re looking forward to working with the government to boost growth and release billions of pounds of investment.
Richard Stone, Chief Executive of the Association of Investment Companies (AIC)
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Notes to editors
- The Association of Investment Companies (AIC) represents a broad range of investment trusts and VCTs, collectively known as investment companies. The AIC’s vision is for closed-ended investment companies to be understood and considered by every investor. The AIC has 329 members and the industry has total assets of approximately £277 billion.
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