AIM Industry Report 2017/18

5 4 CONTENTS INTRODUCTION MARKET RESEARCH MARKET UPDATE INDUSTRY ANALYSIS CONSIDERATIONS FINAL CONCLUSIONS 03 FOREWORD 06 OPENING STATEMENT 07 REPORT OVERVIEW 07 LEARNING OBJECTIVES 08 EXECUTIVE SUMMARY 09 KEY FINDINGS 11 AIM DEVELOPMENTS 13 RULE CHANGES 15 BREXIT IMPACT 18 LSE DEVELOPMENTS 20 DEMYSTIFYING THE AIM BUBBLE 22 OPEN AIM OFFERS 26 CONCLUSIONS 28 HIGH GROWTH POTENTIAL 29 SMEs IMPACT ON THE ECONOMY 31 BREXIT - AIM SINCE THE VOTE 35 CONCLUSIONS 37 ADVISER SURVEY 41 ADVISER ROUNDTABLE 47 INDUSTRY ROUNDTABLE 58 CONCLUSIONS 60 TERMINOLOGY 61 QUANTITATIVE ANALYSIS 70 CONCLUSIONS 71 MANAGERS IN FOCUS 83 REPORT CONCLUSIONS 84 THE FUTURE FOR AIM 85 APPENDIX 86 CPD AND FEEDBACK Intelligent Partnership is committed to the very highest professional standards as embodied by its accreditation and membership of these industry associations. FSC is a non-profit international organisation established to promote the responsible management of the world’s forests. Products carrying the FSC label are independently certified to assure consumers that they come from forests that are managed to meet the social, economic and ecological needs of present and future generations, and other controlled sources. * Please note: unless otherwise stated, all charts and graphs have been provided by Intelligent Partnership 17/18