Consumer Panel calls for single fund charge in damning report

The FSCP, which represents the interests of consumers in the development of financial services policy, wants the Financial Conduct Authority (FCA) to force fund managers to distil the amount investors pay them into a single charge. All other intermediation costs, charges and expenses incurred by the investment manager, including transaction costs, would be borne directly by the firm and reflected in the single charge. The Panel stopped short of calling for a cap on fund costs, though Panel member Debbie Harrison said the idea "has not been ruled out". Current fee methods such as th...