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ICMA Asset Management and Investors Council (AMIC)

The International Capital Market Association (ICMA) established the Asset Management and Investors Council (AMIC) in 2008.

  • Discusses macro level industry and regulatory issues.
  • Identifies and offers solutions to practical issues for members at a technical level.
  • Proposes market-led initiatives in response to the challenges it has identified.
  • Provides a coordinated response to the authorities, which is representative of the views of its cross-border membership from the international asset management and wealth management industry.
  • Has established pro-active relationships with regulatory authorities at national, European and international level in a world where the regulatory authorities are increasingly moving from a national to an international remit.
  • Works to ensure that authorities fully understand the consequences of any regulatory proposals for the asset management and wealth management industry.
  • Establishes partnerships and actively works with other industry groups to ensure a coordinated approach. The AMIC has an inclusive and international perspective; it respects the work of the various national associations and specialist industry bodies, and works with them on specific topics.

AMIC – the difference

There are many existing trade associations on the buy-side, but AMIC seeks to differentiate itself by its cross-border international perspective, its connections with its parent ICMA’s sell-side capabilities, and its combination of both asset owners and asset managers within the same forum.

The AMIC’s distinctive features are:
  • Focus on cross-border issues that affect the international asset management and wealth management industry and institutional investors globally.
  • Membership open to all sectors of the industry including: asset managers, fund managers, private banks, hedge funds, pension funds, insurance companies, alternative investment managers, institutional investors and sovereign wealth funds.
  • An independent voice for the buy-side with many opportunities for engagement with ICMA’s sell-side members.

Working groups

AMIC members are invited to engage directly with specific areas of its work programme through its working groups. At present there are working groups on Covered Bonds, Solvency II, Private Banking, Asset Encumbrance and Long-Term Investments. Other working groups are established from time to time to meet market and regulatory developments and the needs of members. On Shadow Banking the AMIC is actively engaged with regulators in the current debate over new regulation, responding to international and European consultations.

Key achievements
  • The AMIC has responded to European and national consultations on reforming corporate governance with a specific focus on shareholder engagement and remuneration policy and has helped to shape the debate in this area.
  • In the rapidly growing European covered bond sector, the ICMA AMIC Covered Bond Investor Council (CBIC) has published a template of the key information required by investors in covered bonds to make better informed investment decisions and sought the buy-in of issuers.
  • A landmark report on Exchange Traded Funds, including a description of different types of ETFs and the current state of the ETF market, has contributed to the industry’s engagement with regulators by giving a clear picture of future developments in the ETF market and stressing the value of the ETF 'brand'.
  • The ICMA Private Wealth Management Charter of Quality, which draws together the standards adopted by the private banking industry in a single document, has been signed by The Luxembourg Bankers’ Association and is being promoted via other National Associations.
  • The AMIC has issued a paper, “Managing Client Expectations”, that recognises and addresses the asset management industry’s reputational issues.
  • The AMIC has published two reports on money market funds providing an overview and statistical data of these instruments in Europe. The reports recommend introduction of standardisation and, more importantly, clarification of the definition of money market funds.
  • The AMIC has issued recommendations on valuation governance arrangements for funds, including valuation of complex products such as asset-backed securities and structured products.
  • All papers and regulatory responses are available from the Asset Management area of this website.

Click here to download the ICMA Asset Management and Investors Council brochure.

The Council

All AMIC members are equally represented on the AMIC Council which meets regularly to discuss broad industry issues and guides the AMIC Executive Committee on the choice of projects and working groups. The AMIC Council holds plenary sessions and conferences regularly, which combine a discussion forum with a conference and networking opportunities for the AMIC community.

The Executive Committee

The AMIC Executive Committee comprises of co-opted members of AMIC, and the chairs of the permanent working groups. It meets quarterly to define workow and priorities following guidance from the AMIC Council.

The current members of the AMIC Executive Committee are:

Robert Parker
Credit Suisse

Andreas Utermann
Vice Chairman
Allianz Global Investors GmbH

Gianluca Bisognani
Banca Sella Holding S.p.A.

Angus Bogle
Schroder Investment Management Limited

Frédéric Bompaire

Shoqat Bunglawala
Goldman Sachs Asset Management International

Max Castelli

Henry Cooke
Gryphon Capital Investments Pty LTD

Jean-Erik S. de Zagon
European Investment Bank

Andreas Denger    
MEAG Munich Ergo Asset Management GmbH

Philippe Ditisheim
BNP Paribas Asset Management

Stephen Fisher
BlackRock Investment Management (UK) Limited

Vincent Ingham
European Fund & Asset Management Association (EFAMA)

Stéphane Janin
AXA Investment Managers GS Limited

Ibrahima Kobar
Natixis Asset Management

Wouter Kuijpers
Robeco Institutional Asset Management B.V.

Chris Muyldermans    
KBC Bank N.V.Asset Management

Martin Parkes
BlackRock Investment Management (UK) Limited

Tom Rice
PIMCO Europe Limited

Eva Sanchez
Citadel Securities (Europe) Limited

Claus Tofte Nielsen
Norges Bank

Erik van Leeuwen

Axel van Nederveen
European Bank for Reconstruction and Development

Martin van Steeg
NN Investment Partners B.V.

Jennifer Walmsley
Financial Reporting Council

Peter Zoellner
Bank of International Settlements

Stéphane Janin
AXA Investment Managers Paris
Allianz Global Investors GmbH
Altana Wealth
The Alternative Investment Management Association Limited (AIMA)
Aviva Investors France
AXA Investment Managers GS Limited
Banca Sella Holding S.p.A.
Bank for International Settlements
Banque Cantonale Vaudoise
Banque Lombard Odier & Cie SA
La Banque Postale Asset Management
BlackRock Investment Management (UK) Limited
BNP Paribas Fortis
CA Indosuez Wealth (Europe) SA
Ceská sporitelna, a.s.
CFA Society of the UK
Citadel Securities (Europe) Limited
Credit Suisse Securities (Europe) Limited (Chair)
Danske Bank A/S
Deutsche Asset Management (UK) Limited
Edmond de Rothschild (Suisse) S.A.
Eurizon Capital SGR Investment Solutions
European Bank for Reconstruction and Development (EBRD)
European Fund & Asset Management Association (EFAMA)
European Investment Bank
FIDEURAM - Intesa Sanpaolo Private Banking S.p.A.
Financial Reporting Council
Fonds de Resérve pour les Rétraites
General Invest
GMM Global Money Managers Ltd
Goldman Sachs Asset Management International
Government of Singapore Investment Corporation (GSIC)
Gryphon Capital Investments Pty Ltd
Interactive Data (Europe) Ltd
International Capital Market Association (ICMA)
KBC Bank N.V.
Laburnum Consulting
LCH.Clearnet Limited
Lloyds Bank plc
Lyxor Asset Management
Mariner Investment Europe
MEAG Munich ERGO Assetmanagement GmbH
Natixis Asset Management
NN Investment Partners B.V.
Nordea Bank Danmark A/S
Norges Bank
Pensions Europe
Petercam S.A.
Pictet Asset Management Limited
PIMCO Europe Ltd
Raiffesisen Kapitalanlage-Ges.m.b.h (RKAG)
Robeco Institutional Asset Management B.V.
Schroder Investment Management Limited
Soros Fund Management
VP Bank AG