Sandler dominates - papers 10 July

No surprises as to what constitutes the top financial services news today. The FT says that fund managers are furious with Sandler's comments about costs and performance in the industry. One representative of Fidelity Investments, one of the world's biggest active fund managers, says: "This review is full of idealistic aspirations based on long-discredited prejudices about the investment industry." Sandlers proposals would just force mediocre products on "supposedly unwitting consumers", he continues. Other groups were not so negative, the FT says, but some, such as ...