IMA backs validity of past performance data

The IMA believes it has statistical proof that past performance is a guide to the future and of use to retail investors. Investment Week has obtained a draft copy of the Charles River Associates report done on behalf of the IMA, which is due to be released later this autumn. It is the second report commissioned by the IMA examining the issue of past performance. The consultants, often used by the FSA itself, have concluded the FSA's argument that performance should have little relevance in investment decisions is unsustainable. Using Standard & Poor's figures, augmented by data...