IIMI joins City Hive’s ACT Alliance ahead of regulatory push on culture

by | Feb 22, 2024

The Independent Investment Management Initiative (IIMI), a member-led industry group that represents specialist investment firms, has joined think tank City Hive’s ACT Alliance: a collective of firms committed to supporting transparency on culture and the key principles of the ACT Corporate Culture Standard and Framework. 

City Hive developed the ACT Framework and Standard for the investment industry to focus attention on investment management culture and values. The disclosure framework provides a standardised way for investment companies to understand, create and progress cultural change – and be able to communicate progress effectively via reporting. With over 125 firms now doing so, the investment industry is recognising that building trust through transparency is no longer a ‘nice to have’ but a core expectation and imperative if investment firms want to remain future proof. ACT is a valuable tool for the management of boutique firms to mitigate risks for the business side that enables the commercial side in growing assets. 

“We’re delighted to join the ACT Alliance. Culture is key for smaller, independent firms and it is often a core reason for why our firms were established and what we offer to our clients. But no culture is perfect, and we know we can all improve. Sharing best practice on how to grow more inclusive, resilient, and high-performing cultures is a priority for IIMI.” Rose Beale, IIMI Deputy Chair & Responsible Investment Lead at Findlay Park

“We are thrilled to join forces with City Hive and to signify a progressive stance on culture within the boutique asset management sector.” Dani Hristova, CEO IIMI

We welcome IIMI to the ACT Alliance – industry collaboration across large and small firms is vital to moving the dial for all. ACT enables the business leadership to centre building the right foundations and structure aligned with behaviour-focused regulations including Consumer Duty, as they also look to grow their assets under management.” Bev Shah, Co-CEO, City Hive

“Integrity and commitment are insufficient alone to deliver for clients. Movement is underway in the regulatory environment for firms to demonstrate why their culture leads to good outcomes. ACT was designed for this and is now an active solution for the industry. We are proud to have an innovative partner in IIMI standing with us and supporting the ACT Framework and Standard.” Mandy Kirby, Co-CEO, City Hive

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