The Association of Collective Investments (ACI) is holding talks with other representative organisations about forming a new industry body that will represent not only the unit trust management companies, but also investment managers, multi-managers and linked-investment service providers.
This is according to Pieter Koekemoer, the chairman of the ACI, who addressed the recent Momentum Investment Summit in Cape Town.
Koekemoer told Personal Finance that his organisation is in talks with the Linked Investment Service Providers' Association and the Investment Managers' Association about the formation of the new body.
The new organisation will have a more powerful voice in its representations to government, he says. Members of the organisations involved are being consulted, and when this exercise is complete around the end of May, a draft proposal on the structure of the new organisation will be drawn up.
Koekemoer says the ACI has taken note of the Australian model, in terms of which a single organisation represents all the role players in the savings industry.