Responding to the Financial Conduct Authority's (FCA's) Asset Management Market Study, Michael Johnson at the thinktank Centre for Policy Studies has said some 80% of the active investment industry is unnecessary, calling for pension schemes to embrace passive investing.
Commenting on the report, Johnson (pictured) said the consequences of the study for the asset management industry are "potentially devastating, but radical surgery is long overdue". He pointed to the...
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Information request by AJ Bell
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