U.K. managers failing to disclose fees at fund level, CFA says
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More than 40% of 145 U.K. money managers fail to disclose costs associated with individual funds based on the Financial Conduct Authority s value assessment criteria, said the CFA Society of the U.K. on Monday.
Following its Asset Management Market Study, which in 2017 concluded that U.K. investors could receive better value for money from their managers, the FCA urged money management firms to check and report back to investors on whether their funds performance was in line with benchmarks, as well as state the funds investment objectives, assess the quality of their services, merge strategies that could benefit from scale, charge fair fees, offer fees comparable to market rates and reduce third-party costs.