Eight fund groups make last ditch attempt to change PRIIPs rules

According to the Financial Times, the fund houses have written to European Commissioner Jonathan Hill to call for urgent revisions to the legislation, which is due to be signed off in draft form this month. Other groups putting their names to the letter include Allianz Global Investors, AXA Investment Managers, Nordea Asset Management, Fidelity International, Robeco and JPMorgan Asset Management. In particular, they have criticised the decision to end the long-standing practice of asset managers including information on a fund's past performance in key documents. Instead, under new...