Small and medium asset manager association, lobbyist and think tank the New City Initiative (NCI) has said the government needs to recognise its members as an industry group and ensure it is supported by policy.
In a paper, the NCI said smaller fund groups should have the same support offered to other small and medium-sized enterprises (SMEs).
The proposals include boutiques having access to the same financing SMEs receive to overcome the competitive disadvantage.
'For SMEs support need not be wholly financial,' it said. 'An innovative, proportionate and well-conceived regulatory framework, for example, could provide wider societal benefit without the disproportionate externality of onerous compliance costs that accrue to financial SMEs.'
In particular the group believes the unique profile and economic contribution of its members should be recognised by the government's wider asset management development plan, the Investment Management Strategy II (IMS II).
This would ensure access to Innovation Loans for SMEs and access to investor tax incentives.