Innovation is not necessarily a good thing

It can be argued that there are two kinds of innovation, one healthy and the other rather less so. On the one hand, there is the kind of product innovation that leads to the creation of one of the best-selling Pep funds in the history of tax wrappers ' corporate bond funds. On the other hand, there is the kind of product innovation that lead to the creation of what are now considered some of the most mis-trusted investment vehicles ' split-capital trusts and the more exotic structured products. The UK funds industry has just been given a wide range of tools with which to construct portfol...