A row has erupted after the Investment Management Association (IMA) said some structured product providers' claims about returns "should not be taken at face value".
The IMA argued it is difficult to assess the accuracy of product literature because structured products' promoters are not obligated to report performance. But providers have hit back at the IMA, claiming it is merely unsettled by a shift in consumer cash out of unprotected investments and into the structured product arena. The IMA yesterday launched a two-pronged assault on the structured product market, accusing it of a lack of transparency and questioning product performance against tracker funds. It compared the performance of five guaranteed equity bonds (GEBs) issued by National...
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