IMA pushes for standardisation

The IMA is pushing the FSA to include a standardised method of calculating past performance, using one, three and five-year figures, in its changes to disclosure regulations. Regulations dealing with UK adoption of the EU manager directive allowing for easier sale of funds within Europe are expected to be released later this year and the IMA has suggested the use of a standardised approach to presenting past performance data. Richard Saunders, chief executive of the IMA, told industry delegates at the association's annual conference that an acceptable form of presentation for past perf...