Independent Investment Management Initiative

What Independent Investment Management Initiative does

The Independent Investment Management Initiative (IIMI), formerly the New City Initiative, is a London-based, member-led industry think tank founded in 2010 that represents specialist, independent boutique asset management firms in the UK, Continental Europe, and Asia-Pacific. The organization was incorporated as a private company limited by guarantee in England and Wales (Company No. 7250381) and rebranded from NCI to IIMI in April 2021 to reflect its increasingly global membership. It is governed by a board drawn from member firms and operates with a very small secretariat (1-10 employees), relying on member contributions for policy expertise and industry engagement. IIMI does not offer a technology product or software platform; its core services are policy papers and publications, regulatory consultation responses, member networking events, educational seminars on governance and ESG, and a careers job board for boutiques.

IIMI's member base has grown from 25 founding firms managing £75 billion at launch to nearly 60 firms collectively managing over $500 billion in AUM, with membership spanning active equity managers (e.g., Marathon, Polen Capital, Findlay Park), global emerging markets specialists (e.g., Somerset Capital), value and ESG boutiques (e.g., Brickwood, Orbis), and larger independents such as Baillie Gifford and Carmignac. The organization generates revenue exclusively through tiered annual membership fees, structured by member firm location (London vs non-London) and AUM band, ranging from £700 to £4,750 per firm per year, with a two-year fee grace period for start-ups. Its go-to-market is relationship-driven: prospective members apply and are vetted by the board, with growth supported by member referrals, event-led engagement, and partnerships with bodies such as the City of London Corporation, the Department for Business and Trade, and Scottish Financial Enterprise. Strategic activity centers on regulatory advocacy with the FCA, HM Treasury, the FRC, and the European Commission, thought leadership (including the 2025 'The Case for Boutiques' report with Bayes Business School), and the operation of a regional hub in Singapore launched in 2019.

Name

Independent Investment Management Initiative

Legal name

Independent Investment Management Initiative Ltd

Website

https://theiimi.org

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

IIMI is a London-based, member-led think tank founded in 2010 that represents nearly 60 independent boutique asset management firms in the UK, Europe, and Asia-Pacific, collectively managing over $500 billion. It provides regulatory advocacy, policy publications, and networking, funded by tiered annual membership fees.

Ownership category

akta.pro rank

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Membership fees: IIMI generates revenue through annual membership fees structured by firm location (London vs non-London) and assets under management. Tiered pricing ranges from £700-£4,750 per annum for non-London and London-based firms respectively, scaled by AUM thresholds.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

IIMI is a member-led industry think tank representing specialist, independent boutique asset management firms. It provides regulatory advocacy with the FCA, HM Treasury, the FRC and EU regulators; thought leadership through policy papers and publications; marketing, networking and educational events; and a careers/job board for member firms. Membership is structured by AUM tier and London vs non-London location.

Product overview

The Independent Investment Management Initiative (IIMI) is a member-led industry think tank representing specialist, entrepreneurial investment boutiques. The organization offers policy papers and publications, a boutiques job board, events, and regulatory advocacy services. IIMI does not offer a technology product, software platform, or digital services; it provides thought leadership, industry networking, and representation for independent asset management firms. Core service offerings include: policy papers on regulatory reform, ESG, and industry best practices; a careers/job board for member firms; networking events; and engagement with regulators including FCA, Treasury, Government, FRC, and other industry bodies.

Differentiator

Problem solved

Functional benefit

Products and services

• IIMI Membership
• Regulatory Advocacy and Consultation Responses
• Policy Papers and Publications
• Boutiques Job Board
• Member Events and Educational Seminars
• Request a Meeting Service

Quantifiable outcome

• Collective AUM of member firms exceeds £500 billion, providing significant market influence
• +1 more outcomes

Named customers22 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered core and minor.

• Scottish Financial Enterprise (SFE)coreStrategic or Co-development Partner · 9 October 2025SFE and IIMI partnered to boost Scotland's asset management sector. The partnership aims to promote boutique firms and facilitate growth opportunities for members in the Scottish market.
• City of London CorporationcoreStrategic or Co-development PartnerCollaborative initiatives with the City of London Corporation on industry advocacy and promoting London's position as a leading asset management center.
• UK Department for Business and TradecoreStrategic or Co-development PartnerGovernment partnership to support promotion of UK asset management industry internationally and facilitate trade opportunities for boutique members.
• FCA (Financial Conduct Authority)coreStrategic or Co-development PartnerFormal regulatory engagement including consultation responses, policy discussions, and input into FCA regulatory reform initiatives affecting boutique asset managers.
• FRC (Financial Reporting Council)minorStrategic or Co-development PartnerEngagement with FRC on corporate governance standards and regulatory matters affecting boutique investment managers.
• HM TreasurycoreStrategic or Co-development PartnerInput into Treasury consultations on growth, competitiveness, and regulatory reform affecting the asset management sector.
• European CommissionminorStrategic or Co-development PartnerDialogue with EU regulators on pan-European financial regulation including AIFMD and MiFID II implications for independent asset managers.
• Bayes Business School (City, University of London)minorStrategic or Co-development PartnerJoint research partnership producing 'The Case for Boutiques' survey of European boutique asset managers published May 2025.
• Open EuropeminorStrategic or Co-development PartnerCollaborative research partnership on asset management reform in Europe, producing policy papers on EU regulatory impact.

Scale indicators7 records

Recent moves9 records

Expansion highlights6 records

Broad incumbents

• SIFMA (Securities Industry and Financial Markets Association): US-based trade association representing securities industry participants including broker-dealers, banks, and asset managers. SIFMA is a broad incumbent operating in adjacent financial-services advocacy, with overlapping regulatory engagement on behalf of large institutional members.
• CFA Institute: Global not-for-profit association of investment professionals with over 190,000 members, providing the CFA charter and engaging on ethics, standards, and policy. Comparable as a large membership-driven investment-industry body, though CFA focuses on individual professionals rather than firms.
• ICI (Investment Company Institute): The leading US association representing regulated investment companies (mutual funds, ETFs, closed-end funds, and unit investment trusts). ICI is a broader incumbent serving a much larger and more diverse asset management membership, but operates the same membership-advocacy model.
• ICI Global: The international arm of ICI, representing regulated investment funds globally. Functions as an industry-association peer in cross-border policy advocacy on behalf of asset managers, with a broader (and larger) membership remit than IIMI's boutique focus.

Direct peers

• AIMA (Alternative Investment Management Association): Global representative body for the alternative investment industry with members across hedge funds, private credit, and other non-traditional strategies. AIMA is a peer as a similarly-structured membership-driven advocacy organization serving a defined subset of asset managers on regulatory matters.
• Managed Funds Association (MFA): US-based trade association representing the hedge fund and alternative investment industry. MFA operates a similar membership-funded policy-advocacy model focused on protecting and promoting a defined subset of asset managers — directly comparable in business model and value proposition to IIMI.
• The Investment Association: The UK trade body representing the asset management industry, with ~250 member firms managing over £9 trillion. IIMI and the IA operate in the same UK asset-management advocacy space, though IA represents the broader industry (including large managers) while IIMI specifically champions boutiques.
• EFAMA (European Fund and Asset Management Association): Pan-European asset management trade association representing the European investment management industry. EFAMA engages EU policymakers on AIFMD, MiFID II, and ESG — the same regulatory file IIMI also influences — making it a structural peer in EU-level advocacy for boutique managers.

Others

• City of London Corporation (Financial Services): Municipal authority that promotes the City of London as a global financial center. Not a direct membership peer, but an institutional ally and partner to IIMI in joint initiatives promoting London's asset-management cluster.

Regional players

• Scottish Financial Enterprise: Membership body promoting Scotland's financial services industry. SFE is an IIMI partner but also a comparable regional industry-association peer — both bodies advocate for financial-services clusters and run member-driven policy and events programs.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/theiimi
• LinkedInlinkedin.com/company/theiimi

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about Independent Investment Management Initiative