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<p>The advisory group is chaired by Elizabeth Corley, VC Allianz Global Investors,
and is made up of senior industry representatives from across the savings and investment
sectors, with a balance of CEO’s, senior practitioners and product experts. A full
list of organisations that are involved can be found at Annex A.</p><p>The group’s
first meeting was on the 18th January and will meet four more times before July, when
the group will announce their initial recommendations to government and industry.
The three working groups, that have been set up to look at specific issues around
Product, Distribution and Customer Engagement, will meet more frequently. Terms of
reference can be found at Annex B</p><p>Annex A – List of organisations involved in
the advisory group</p><p>The advisory group is split into:</p><p>(a) An advisory committee
acting as a high-level sounding board</p><p>(b) A steering group which shapes the
work</p><p>(c) Three working groups looking in-depth at specific issues around Product,
Distribution and Customer Engagement</p><p>The Chair of the advisory group (which
encompasses all of the above) is Elizabeth Corley, VC Allianz Global Investors, and
it currently has representation from the following firms (subject to change/additions):</p><ul><li>Aberdeen
Asset Management</li><li>Albion Ventures</li><li>Architas</li><li>Axa Investment Managers</li><li>Barclays</li><li>Big
Issue Invest</li><li>Big Society Capital</li><li>Blackrock</li><li>Bridges Ventures</li><li>Centapse</li><li>CFA
Society UK</li><li>City of London Social Investment Board</li><li>ClearlySo</li><li>Columbia
Threadneedle</li><li>Esmee Fairbairn Foundation</li><li>FCA (Financial Conduct Authority)</li><li>FRC
(Financial Reporting Council)</li><li>Grant Thornton</li><li>Hargreaves Lansdown</li><li>Henderson
Global Investors</li><li>Hermes Investment Management</li><li>HSBC</li><li>Invesco</li><li>Investment
Association</li><li>Legal & General Investment Management</li><li>Lloyds Bank</li><li>M&S
Bank</li><li>Mercer</li><li>NEST (National Employment Savings Trust)</li><li>New Philanthropy
Capital</li><li>Nutmeg</li><li>PLSA (Pensions & Lifetime Savings Association)</li><li>Social
Finance</li><li>St James Place</li><li>Standard Life</li><li>Squaremile</li><li>Triodos</li><li>Trust
for London</li><li>UBS</li><li>UK National Advisory Board on Impact Investing</li><li>Virgin
Money</li><li>Worthstone</li><li> </li></ul><p>Annex B: Terms of Reference</p><p>ADVISORY
GROUP TO GOVERNMENT:</p><p>CREATING A CULTURE OF SOCIAL IMPACT INVESTMENT AND SAVINGS</p><p>ENHANCING
INDIVIDUAL CHOICE</p><p>Summary:</p><p>How can the savings, pensions and investment
industries, with the support of government, engage with individual investors to enable
them to support more easily the things they care about through their savings and investment
choices?</p><p>Detail:</p><p>The advisory group has been formed at the request of
the Minister for Civil Society and the Economic Secretary to the Treasury.</p><p>It
has been created to discuss how the savings, pensions and investment industries, with
the support of government, can engage with individual investors to enable them to
support more easily the things they care about through their savings and investment
choices, whether through retail options or in collective schemes.</p><p>The aims of
the advisory group are to:</p><p>1. Explore barriers to the development of products
with social impact components</p><p>2. Explore barriers to the demand for and distribution
of such products</p><p>3. Consider who is best placed to identify and implement solutions</p><p>4.
Consider how existing best practice, regulatory incentives and further measures can
reduce or remove barriers</p><p>5. Develop ideas for how best to explain social impact
savings and investment choices to individuals and to provide feedback on impact to
any fiduciaries and advisors involved</p><p>6. Discuss timescales for solutions, including
possible next steps for any longer-term work to be taken forward beyond the advisory
group.</p><p>Elizabeth Corley, Vice Chair of Allianz Global Investors (and previously
CEO) has been asked to Chair the group. The group has been asked to make an initial
report to the Minister for Civil Society and the Economic Secretary to the Treasury
in Summer 2017.</p><p>Conclusions and recommendations are those of the group, but
may not represent any individual member’s view. Any decisions on government policy
rest with the ministers of the day.</p><p> </p>
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