Investors are paying almost a third (30%) more in transaction costs on average than had previously been disclosed to them, research from the lang cat has found.
On the back of disclosure requirements under the updated Markets in Financial Instruments Directive (MiFID II), the lang cat conducted research into the top-selling 20 funds of 2016. It found investors in 13 funds were paying on average nearly a third (30%), and as much as 85%, more in additional transaction fees than had previously been disclosed to them. Effective from the start of 2018, MiFID II has required investment managers to disclose additional transaction costs that are charged to their funds on top of the published ongoing charges figure (OCF). Seven of the top 20 funds ...
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