Fund buyers have called for more transparency on passive fund costs not contained within the ongoing charges figure (OCF) - even as a price war cuts headline fees to record low levels.
The price war involving both exchange-traded fund (ETF) providers and index funds was restarted again last week when Legal & General Investment Management (LGIM) cut fees on a swathe of its tracker products. Separately, Investment Management Association (IMA) data released last week showed tracker funds alone now account for 10.8% of UK retail assets under management, up a full percentage point from six months ago. ETF sales are not included in the analysis. While investors have long been warned of the need to examine fees outside the headline charge, industry figures complain that...
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