Darius McDermott: Don't throw the baby out with the bathwater on active management

It has been a few months since the Financial Conduct Authority (FCA) published its Asset Management Market Study, investigating price competition and performance. The consultation period is ongoing and it will be yet another few months before we see the final report and recommendations. Judging by the package of 'remedies' that has been proposed, the industry should prepare itself for changes to the ways in which fund fees are calculated, new requirements around investment objectives and tighter control of allowable benchmarks, among many other potential changes. FCA Asset Management ...