The Investment Management Association - the UK's trade body for fund managers - is introducing draft...
The Investment Management Association - the UK's trade body for fund managers - is introducing draft guidelines to its members on detecting and controlling market timers and safeguarding funds from negative consequences.
This includes implementation of an appropriate supervisory structure including policies to detect and deal with timers and ensuring that someone in senior management is assigned responsibility for supervising the policies and their implementation.
How to reduce the attractiveness of funds to market timing, including reviewing valuation points and dealing cut-off points, fair value pricing, publication of funds' portfolios, dilution levy or dilution adjustment and redemption fees.
Other guidelines include how to identify and address market timers and how to deter identified market timers.
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till