Terms of Use

This Platform is operated by The Investment Association ("IA", "we", "us", "our"), a company limited by guarantee. Registered Office: 10 Norton Folgate, London, E1 6DB. Registered in England and Wales. Registration Number: 4343737.

By accessing or using the Platform, you confirm that you accept these terms of use (the "Terms") and agree to comply with them. If you do not agree to these Terms, you must not use the Platform.

Access may be restricted to IA members, IA staff, authorised consultants or other persons invited by IA. You must not provide any password, access token, authentication credential or other means of accessing the Platform to anyone who is not authorised to use it.

These Terms should be read together with our Privacy Policy at intelligence.theia.org/privacy-policy which explains how we process your personal data, and our Cookie Policy at intelligence.theia.org/cookie-policy which explains how we use cookies and similar storage and access technologies.

About the Platform

The Platform provides access to Investment Association research, survey and report data, including historical investment-management data, through dashboards, charts, search tools and AI-assisted features. Certain features allow users to ask questions about IA reports and datasets and to generate or assemble presentation content.

The Platform is currently being made available on a limited trial or preview basis. Features, datasets, AI models, functionality and access arrangements may change during the trial, and we may correct, update, add or remove content or functionality at any time.

Important Information - Liability

You use this Platform at your own risk. The IA believes the information contained in this Platform to be reliable and correct. The content is provided on an "as is" basis, for general information only. It has not been audited or verified by any third party and is subject to change at any time without notice.

The data, charts, dashboards, and analytics presented on this Platform are derived from the Investment Management Survey (IMS) reports published by the IA from 2005 to 2025, and from the IA's ISA Barometer research. While we strive for accuracy, the IA makes no representation or warranty as to the accuracy, completeness, or continued availability of this data.

Historical data may reflect the methodology, definitions, reporting population, classifications and assumptions applicable at the time the underlying data was collected or published. Changes in methodology or reporting practices may affect comparisons between different years or periods. You should consult the relevant source report and methodology where authoritative or comparable historical data is required.

Nothing on the Platform including any data, chart, AI-generated response, visualisation or presentation content constitutes investment advice or a personal recommendation nor can it take account of your particular circumstances. You remain responsible for your own professional, commercial and investment decisions and for independently verifying Platform content where appropriate before relying on it.

If you require advice on investments, you should contact a financial or another professional adviser. No material on this Platform is an offer or solicitation to buy or sell any investments or to engage in investment activity.

Nothing in these Terms excludes or limits liability where it would be unlawful to do so, including liability for death or personal injury caused by negligence or for fraud or fraudulent misrepresentation.

Subject to the above, and to the fullest extent permitted by law, IA excludes all implied conditions, warranties, representations or other terms that may apply to the Platform or its content. IA will not be liable for any loss arising from your use of, inability to use, or reliance on the Platform or its content, including loss of profits, revenue, business, anticipated savings, business opportunity, goodwill or reputation, or any indirect or consequential loss.

AI-Generated Content

This Platform includes AI Assistant features (including for the ISA Barometer) and an AI-assisted Presentation Builder, powered by third-party AI providers via Retrieval Augmented Generation (RAG). Queries are routed through OpenRouter to a GLM model (developed by Zhipu AI) for chat responses and an OpenAI embedding model for retrieval, and the Presentation Builder additionally uses Tavily, a web search API, to retrieve supplementary web context. See our Privacy Policy for details. You acknowledge and agree that:

1. AI-generated responses are produced by a machine learning model and may contain inaccuracies, hallucinations, or errors
2. AI responses should not be treated as professional financial, legal, or investment advice
3. You are solely responsible for verifying any AI-generated content against primary sources before relying on it.
4. Interactive visualisations generated by the AI are for illustrative purposes only and may not precisely represent the underlying data.
5. Web search results retrieved by the Presentation Builder are supplementary context only and are not verified by the IA.
6. The IA accepts no liability for decisions made based on AI-generated content.
7. AI features are subject to rate limiting and may be unavailable at times.
8. AI-generated responses, summaries, calculations, citations, conclusions and other outputs should be checked against the relevant source report or underlying dataset before being used for any material professional, commercial, regulatory or external purpose.
9. The fact that AI-generated content is produced through the Platform does not mean that IA has reviewed, verified, approved or endorsed that content.
10. AI-generated content must not be represented as an official IA view, conclusion, publication or policy position unless IA has expressly approved it as such.
11. You must not submit personal data, special category personal data, confidential information, commercially sensitive information or third-party proprietary material into AI features unless you are authorised to do so and it is necessary for your permitted use of the Platform.

Data and Dashboard Content

The dashboard data presented on this Platform is extracted from IMS reports spanning 2005 to 2025. Where data was unavailable for certain years, estimated values may be shown, clearly marked with visual indicators (dashed lines, hatched bars, or "Est." labels).

Estimated values are derived through linear interpolation or extrapolation and should not be treated as reported figures. The IA makes no warranty as to the accuracy of estimated data points.

Present Mode and User-Generated Content

Present mode lets you build presentations combining Platform data, AI-generated content, and text you write yourself. By using Present mode, you acknowledge and agree that:

1. Presentations you create are stored on our servers and are accessible to anyone with the presentation's share link; they are not private by default
2. You must not include personal, confidential, or unlawful content in a presentation you create or share
3. You are solely responsible for the content you add to a presentation
4. An edit key is generated when you create a presentation and stored in your browser; anyone who obtains this key can edit or delete that presentation
5. The IA may remove any presentation that breaches these terms, without notice
6. Presentations are retained until deleted by their creator or removed by the IA, and are not subject to a fixed retention period

Intellectual Property Rights

All intellectual property rights in the materials on this Platform are vested in the IA and/or its licensors.

This includes, without limitation, rights in the Platform, underlying reports, datasets, compilations, dashboards, charts, graphics, methodologies, text and other IA materials made available through the Platform.

You may:

• View and interact with the Platform for internal business use
• Print or download dashboard charts and data for internal research purposes, provided you credit "The Investment Association - Investment Management Survey" as the source and
• Download AI-generated visualisations for or internal business use, subject to these Terms.

You must not:

• Reproduce, duplicate, or redistribute the Platform's content commercially without the IA’s written permission
• Systematically extract or scrape data from the Platform for the purpose of creating a competing dataset or service
• Use the IA's logos, trademarks, or branding without prior written consent
• Represent AI-generated content as official IA analysis or publications or
• Sell, license, sublicense or make available any substantial part of the Platform dataset as a standalone product, database or service without IA's prior written consent.

Prohibited Uses

You may not use this Platform:

1. In any way that breaches any applicable local, national, or international law or regulation
2. In any way that is unlawful or fraudulent, or has any unlawful or fraudulent purpose or effect
3. To attempt to circumvent rate limiting or other security measures on AI endpoints
4. To submit malicious, abusive, or harmful queries to the AI Assistant
5. To attempt prompt injection, jailbreaking, or other attacks against the AI system
6. To transmit viruses, malware, or other harmful code
7. To attack the Platform via denial-of-service or similar attacks
8. To reverse-engineer, decompile, or disassemble any part of the Platform
9. To access, interfere with, or damage any server, network, or database connected to the Platform or
10. To upload, submit or use content that infringes the intellectual property, confidentiality, privacy or other rights of the IA or any other member of the IA.

PDF Reports

The Platform provides access to PDF versions of historical IMS and ISA Barometer reports. These reports remain the copyright of The Investment Association. Reproduction of report content is subject to the same intellectual property restrictions outlined in Section 6.

Availability

While the IA endeavours to ensure the Platform is available, we do not guarantee uninterrupted access. The Platform may be unavailable due to maintenance, updates, server issues, or circumstances beyond our control. The IA shall not be liable for any unavailability.

Links to Third-Party Sites

The Platform may contain links to theia.org and other external websites. These links are provided for convenience only. The IA does not endorse and is not responsible for the content or practices of third-party websites.

The Platform may also retrieve, display or incorporate information supplied by third-party services, including through AI-assisted web-search functionality.

The fact that third-party content is accessible through the Platform does not mean that IA has reviewed, verified, approved or endorsed that content. IA has no control over the accuracy, availability or continued accessibility of third-party content or services.

Indemnity

You agree to indemnify and hold the IA, its directors, officers, employees, and agents harmless from all liabilities, damages, losses, costs, and expenses arising from your breach of these terms or your use of the Platform.

Confidentiality

As part of your access to the Platform, you may receive or have access to information that is not publicly available, including information about the Platform’s functionality, features, development, testing, security and access arrangements, and other non-public information relating to the IA or the Platform (“Confidential Information”).

You must keep Confidential Information confidential and must not disclose it to any third party or use it for any purpose other than your permitted use and evaluation of the Platform, except with the IA’s prior written consent or where disclosure is required by law.

Confidential Information does not include information that is lawfully in the public domain other than as a result of a breach of these Terms, including IA reports, data or other materials that the IA has already made publicly available.

Changes to These Terms

The IA reserves the right to amend these terms at any time by posting revised terms on this page. It is your responsibility to check for updates. Continued use of the Platform after changes constitutes acceptance of the revised terms.

Where we make material changes, we may bring those changes to your attention through the Platform or by other appropriate means.

Your continued use of the Platform following an update may constitute acceptance of the revised Terms where appropriate. Where required by law or where the nature of the change makes it appropriate, we may ask you to accept revised Terms expressly.

Assignment

Neither you or us may assign, transfer or novate, or purport to assign, transfer or novate, any of its rights or obligations under this Agreement without the prior written consent of the other Party, such request not to be unreasonably withheld or delayed.

Third party Rights

You may not assign, transfer or otherwise deal with any of your rights or obligations under these Terms without our prior written consent.

We may assign or transfer our rights and obligations under these Terms to one or more of our Affiliates.

Affiliate means for the purposes of this section, any entity controlled, directly or indirectly, by the IA any entity that controls, directly or indirectly, the IA or an entity directly or indirectly under the common control with that IA.

Entire agreement

These Terms constitute the entire agreement between us and you governing your access to and use of the Platform. Each party acknowledges that it has not relied on any statement, promise, assurance or representation made or given on or behalf of the other party which is not set out in these Terms.

Nothing in this clause limits or excludes any liability for fraud or fraudulent misrepresentation.

Governing Law, Jurisdiction and Severability

These Terms shall be governed by and construed in accordance with English law. These Terms, its subject matter and formation, and any non-contractual dispute or claims arising under these Terms shall be subject to the exclusive jurisdiction of the English courts.

If any part of these Terms is found to be illegal, invalid, or unenforceable, that part shall be severed and shall not affect the remaining provisions.

Contact

If you have any concerns about these terms or material on the Platform, contact us:

• By email: members@theia.org
• By post: The Investment Association, 10 Norton Folgate, London, E1 6DB
• By telephone: +44 20 7831 0898