An academic research paper has found evidence that mutual fund managers misclassify their holdings, resulting in "pervasive misclassifications across the universe of US fixed income mutual funds by Morningstar, who relies on these reported holdings".
The paper, Don't take their word for it: The Misclassification of Bond Mutual Funds, by professors Huaizhi Chen, Lauren Cohen and Umit Gurun, claims to be the first systematic study comparing fund reported...
$17trn of debt is now ‘paying’ a negative yield
Aberdeen's Laurent Frings
Asymmetric return profile
The Pensions Ombudsman (TPO) has rejected a number of complaints from members of the embattled and collapsed British Steel Pension Scheme (BSPS).
More than 30 firms pull out in just three months
Fell into administration this year
The Financial Conduct Authority (FCA) has told the FT that it does not keep a record of investment fund suspensions.