Investment Management Update: FCA thematic review of clarity fund charges; ABI guide to unit-linked funds; and more
The Financial Conduct Authority (FCA) has published a report (TR14/7) following its thematic review into the clarity of fund charges. The review focused on 11 UK firms of different sizes and models (mainstream asset managers, banks, insurers and wealth managers) of operating funds that were sold to UK retail investors.
The FCA states that there are two main messages from its thematic work: using the annual management charge (AMC) in some marketing material and the ongoing charges figure (OCF) in other documents may confuse investors and hinder their ability to compare charges; and using the OCF consistently in all marketing material for UCITS funds is likely to help investors understand and compare charges…
Click on the link below to read the rest of the Macfarlanes briefing.
News from The Lawyer
Briefings from Macfarlanes
M&A Weekly Update: forced sale of shares does not qualify as ‘an offer to the public’ requiring publication of prospectus; and more
Macfarlanes has released its M&A Weekly Update for the period 27 June to 3 July 2014.
Investment Management Update — 4 July 2014: FCA Handbook Notice 13; ESMA updates Q&As on AIFMD; and more
Macfarlanes has released the 4 July 2014 issue of its Investment Management Update.
Analysis from The Lawyer
As the equity capital markets rocketed back into favour and global M&A saw at least a partial return to form, there have been some rich pickings for The Lawyer’s Corporate Team of the Year award shortlisted firms in 2014.
Footie and telecoms dominate our regular round-up of recent M&A activity, as the threat of rising interest rates kick-started activity among organisations.