UK buy-side industry body the Investment Management Association (IMA) is set to merge with the investment activities of the Association of British Insurers (ABI).
The two associations have reached an agreement in principle which they said will create an organisation that spans the full spectrum of investment management activity to create a stronger, more coherent voice.
They hope that through merging the ABI's investment activities with the IMA that it will also help to encourage more long-term thinking about investment issues in the UK.
Discussions on details of the merger are still ongoing but the IMA confirmed the move will result in the creation of a new association with a new name and chairman. The intended completion date for the merger is 1 July 2014.
The ABI will continue in its role of representing insurance companies as asset owners.