The Association of British Insurers is changing the way past performance data is presented for all investment funds in the life and pensions sectors to give advisers and consumers a better ‘like-for-like' comparison of how charges affect returns.
New ABI> rules are being introduced from mid September which will allow funds to ‘chain link’ primary price series data – the charge which is currently applied to a fund – so each fund appears just once in performance tables. Through reform of data presented by Lipper and Standard & Poor’s, investment firms will be able to link their performance data for the old primary price series for the same fund to the data for the new primary price series, so it is possible to see how charges affected past performance of a fund. Similarly, providers of gross funds which use unit cancellation ins...
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