CFA UK has called for the establishment of a value for money (VFM) assessment framework for all investment funds, which it argues would enable the industry to better demonstrate its value to clients and "increase public trust".
In a white paper published on Monday (17 December), CFA UK cited the Financial Conduct Authority's Asset Management Market Study as evidence that VFM is an area of "growing regulatory interest" as authorities continue to pursue "potential information asymmetries between asset managers and clients". The FCA's feedback paper from consultation on the 2017 study, published in April, extended the implementation period for fund managers to explain their products' value from 12 to 18 months. Its new rules will require fund managers to carry out an assessment - which must explicitly include f...
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