Calls have been made for a ‘radical intervention' in fund management, in a highly critical report that accuses the sector of keeping investors ignorant of the true cost of investing. Laura Miller looks at the research underpinning this damning conclusion...
The Financial Services Consumer Panel (FSCP), which represents the interests of consumers in the development of financial services policy, has the ear of the regulator. Right now it is telling the Financial Conduct Authority (FCA) that, particularly on fees and governance, the fund management industry is failing investors and needs urgent "radical, structural reform". The Panel wants the FCA to force fund managers to reveal the total amount investors pay them as a single fee, called a unitary management charge. All other intermediation costs, charges and expenses incurred by the in...
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