Gill Hutchison: When does OCF = VFM?

The FCA's spotlight on fees has engendered a long overdue focus on charges for all in financial services who reside along the multiple links of a customer's value chain. In the world of funds, industry-wide launches of so-called ‘clean' share classes from 2013 onwards was part of a huge ‘unbundling' exercise, which promoted greater understanding about the cost of purchasing and holding investment products.  The debate about costs and ‘value for money' is far from over and this remains a complex area, filled with subjectivity and swayed by the vagaries of dynamic investment markets. Even ...