Isle of Man Today- TARGETS set by the Smith report are now more ambitious than when they were set, but Fund Managers’ Association chairman Anthony Long believes they are a ‘galvanising’ force for the industry.
In March 2007 the Smith report set out the aim of achieving $50 billion in funds under management and $100 billion under administration by 2010.
Speaking at the association’s annual dinner on April 11, Mr Long said: ‘Some might say these targets are overly ambitious in the current environment and maybe they will be proved right in the fullness of time. Nevertheless, these targets are a galvanising focus for the Island’s funds industry.’
