FSA yield u-turn welcomed

Fund managers have long argued the data is unnecessary and not suitable for funds reporting. Reduction in yield is commonly used in life insurance products to show charges but funds also publish total expense ratios, which the IMA said is more appropriate. The FSA proposals are contained in its response to the European Union’s Markets in Financial Instruments Directive (MiFID) and concern how the directive will be incorporated into the Conduct of Business (CoB) rulebook for regulated firms. The IMA said the FSA consultation paper also appeared to pave the way for ending the requirement...