The Investment Association, the trade body representing the UK’s £7.7tn asset management industry, has joined forces with a similar group that lobbies on behalf of property funds.

The Association of Real Estate Funds, which has more than 65 members with around £73bn in assets, will join up with the IA in a move that takes effect on April 25. It will “retain its distinct brand identity”, the organisations said in a statement on March 5.