FSA relied on decade-old fund manager study for RDR

The FSA says the research, which was carried out in South Africa and based on data gathered between 1996 and 2002, offers proof of a link between higher qualifications and improved consumer outcomes. Entitled ‘Are some fund managers better than others?', the study assessed the different types of qualification held by managers and how these impacted on the 57 funds they managed. It suggests there is a small correlation between better fund performance and higher qualifications, but concludes 'other factors' are more important. In a consultation paper on professionalism published in ...