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…

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