Eight fund groups make last ditch attempt to change PRIIPs rules

Worried about not including past performance data

clock • 1 min read

Senior figures from eight asset management groups, including Schroders and BlackRock, have urged the European Commission to amend draft Packaged Retail Investments & Insurance Products (PRIIPs) rules or risk misleading investors, according to reports.

According to the Financial Times, the fund houses have written to European Commissioner Jonathan Hill to call for urgent revisions to the legislation, which is due to be signed off in draft form this month. Other groups putting their names to the letter include Allianz Global Investors, AXA Investment Managers, Nordea Asset Management, Fidelity International, Robeco and JPMorgan Asset Management. In particular, they have criticised the decision to end the long-standing practice of asset managers including information on a fund's past performance in key documents. Instead, under new...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Advisers expecting more of asset managers since Consumer Duty

Advisers expecting more of asset managers since Consumer Duty

‘We actually need to understand one another better’

Hope Coumbe
clock 28 March 2024 • 1 min read
Fears tech limitations could stall MPS on its upward trajectory

Fears tech limitations could stall MPS on its upward trajectory

‘There have been a few changes and challenges around growth in general’

Hope Coumbe
clock 27 March 2024 • 1 min read
Partner Insight: Beyond 60/40

Partner Insight: Beyond 60/40

Invesco
clock 27 March 2024 • 5 min read