FCA pushes asset managers to assess profitability – Ignites Europe

The UK financial watchdog says some fund boards have misinterpreted its rules for value assessments and are failing to analyse the profitability of their product ranges.

Since September 2019 UK authorised fund managers must carry out an assessment of the value their funds are delivering to investors each year, evaluating seven criteria including performance, costs and quality of service.

However, Garry Murdoch, technical specialist at the Financial Conduct Authority, says the regulator sees firms “continue to misinterpret” its value assessment rules “both in letter and in spirit”.

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