The AITC is calling on members for more cash to fund the “its” campaign for an extra five years and has won support from leading IFAs.
Speaking at the AITC annual conference in London on Tuesday, director general Daniel Godfrey said he wanted each company to donate up to 1.5 basis points of funds under management a year to the campaign. Donations are discretionary and many AITC members do not contribute.
The campaign, planned to last three years, is drawing to the end of its second phase. But lack of funding has led to speculation it will be axed as early as this summer.
Members will be consulted on Godfrey's proposals over the coming months, with a decision on whether to continue the campaign made by the AITC executive committee in June.
If members fail to back the proposals, the campaign will be ended.
Godfrey says: “We should continue because we should not think we can afford to advertise only when we are in a crisis. One and a half basis points is a very small amount.”
Godfrey's appeal comes as eight IFAs, including Columbus and Chartwell, have called on investment trust directors to support the “good work” of the campaign.
In a letter to Money Marketing, the IFAs said: “While it will take years rather than months to complete the education process, it would be a real waste if it were stillborn. IFAs are ready to carry out their role. All investment managers must do the same.”