Platform providers launch defence after IMA broadside

In a recent report, the IMA said the fund marketplace is becoming increasingly "complex" and "intermediated" leading to concerns as to how much information is getting through to clients. It states: "This increasing distance between managers and retail investors has led to some concerns over whether material devised for those investors is actually transmitted to them. "Managers are reliant upon the platforms and other intermediaries to pass on fund material to the investors. "The current market conditions led to situations where managers wished to communicate additional, timely message...