Kames Capital chief executive Martin Davis has said a consumer group report that was highly critical of how fund managers charge fees is "over simplistic" and another "rant" from the body.
A damning report by the influential Financial Services Consumer Panel (FSCP) calls on the regulator to implement "radical, structural reform" of how fund managers charge investors, to deal with the "widespread and persistent problems" of unclear and misleading fees in the industry. The FSCP, which represents consumer interests 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 incurred by the investment manager, including transac...
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