Autif is set to merge with the institutional trade body, the Fund Managers Association.
In a joint statement released this week, the two trade bodies confirmed they were in talks, and were planning on a merger during the first quarter of 2002.
Autif represents the maangers of authorised unit trusts and Oeics, with its members accounting for some £213bn of funds under management. FMA represents 70 institutional fund managers, accounting for more than £2,200bn of assets.
FMA chairman Linsay Tomlinson says: “Bringing together our tow associations should significantly enhance our influence and our effectiveness on public policy issues of concern to fund managers. We have good working relations already in our many areas of common interest and a full merger is the logical next step.”
Autif chairman Alan Burton says: “Both associations have been very successful in recent years in achieving their objectives. It will be important to safeguard the distinctive approaches that have brought that about, and maintain the high levels of service which members have become used to, at the same time as repairing the benefits of the merger. We will be consulting therefore on proposals to do that.”