FSA "must highlight underperformance" - papers 7th April

THE FSA may be forced to rethink its views on the use of past performance data, says this morning's FT, but not for the reasons originally put forward by fund managers. Research conducted by professors David Blake of Birkbeck College and Allan Timmermann of the University of California - challenges the FSA's view that statistics on past performance are irrelevant to investors choosing funds, say the FT, when there is evidence of persistent underperformance. Instead, the two parties argue that while there is no evidence of persistently strong performance, is it is the FSA's duty to...