The conservation value of aquatic macroinvertebrate assemblages in old industrial mill ponds was examined within the urban environment. Of the 60 pond sites identified, 18 (31%) have been drained and/or redeveloped since 1985. Canonical correspondence analysis identified differences between the invertebrate communities of managed and unmanaged ponds. Community composition was strongly influenced by the percentage of vegetation cover and the presence of stocked fish for recreational angling. Managed/stocked ponds have communities dominated by burrowing Oligochaeta and Chironomidae. Unmanaged sites had higher macroinvertebrate diversity compared to managed/stocked ponds and were typified by larval Trichoptera, Coleoptera and Zygoptera. However, unmanaged and ‘derelict’ sites are at greater risk of drainage and redevelopment in the urban environment. The potential conflict between active management of old industrial mill ponds for recreational angling and the conservation of macroinvertebrate biodiversity is explored