The money management industry reiterated its commitment to support British businesses as they deal with the coronavirus pandemic.
The support was expressed via a letter sent to the chairmen of all FTSE 350 companies by the Investment Association, the trade body for U.K. money managers and representing £7.7 trillion ($9.4 trillion) in assets under management. The IA's members own one-third of U.K. public limited companies.
The letter outlined money managers' views on a number of areas regarding British businesses and how they will support firms throughout the period of economic difficulties caused by the COVID-19 outbreak and spread.
Companies should maintain an open dialogue, in part to help shareholders and stakeholders support management teams and boards as they focus on the most business-critical issues affecting their long-term sustainable futures.
The annual general meeting season is also coming up, and money managers will support companies "by focusing on the most material issues facing businesses."