The UK’s cheapest authorised corporate director has tweaked its fee structure, signalling wider trends about regulatory costs facing the industry. Valu-Trac transitioned from fixed fees to an ad valorem fee structure – a percentage of assets under management – at the start of the year, people close to the host ACD say. view full article
UK’s cheapest ACD ditches fixed fee model – Ignites Europe Read More »
Luxembourg’s financial regulator has flagged shortcomings in asset managers’ setting of fee levels and ongoing charges calculations following a probe of the local market. The warning comes in the Commission de Surveillance du Secteur Financier’s feedback report, published yesterday, following the common supervisory action on the supervision of costs and fees of Ucits, launched by the European
Lux watchdog warns firms on fund charges – Ignites Europe Read More »
In the latest edition of its ‘Investment Advisory Fee Benchmarking Report’, fund research company Fitz Partners has looked at the different costs which make up fund management fees and also an estimate of fund margin levels. The latest Fitz Partners’ research is based on asset managers’ confidential fee schedules and covers over 1,300 funds with
European fund boards are obliged to ensure performance fees are aligned with investors’ interests. Fund directors have been put on alert after a UK investment trust was forced to launch a review of its performance fee structure following a £112m (€130m) payment to its investment manager. View Full Article
Performance fee controversy sparks warning – Ignites Europe Read More »
We have picked the main current areas of discussion across the European fund industry linked to fund governance: ESMA Common Supervisory Action and review of fund costs Impacts of UK Assessment of Value, 3 years on European fund board structures and independent directors fees View Full Newsletter
Fitz Partners News: Fund Governance, Regulations & Fund Boards – ESMA Read More »
The variation in remuneration for European independent directors on fund boards is significant, ranging from €1,000 to over €100,000 per year, per director, according to research by Fitz Partners. The research firm’s report found that directors who are the sole independent director for their fund board are paid substantially more than directors who are one of
European independent directors paid up to 100 times more than others – Funds Europe Read More »
The Financial Conduct Authority’s (FCA) recent review of fund managers’ Assessment of Value (AoV) reports makes for “pretty damning” reading and marks a “huge blow” to firms, although the findings are unsurprising to some industry commentators. view full article
FCA value assessment review: An ‘uncomfortable read’ but unsurprising – Investment Week Read More »
The Financial Conduct Authority has found some authorised corporate directors (ACDs) are operating in the asset management market with inadequate standards in place. The findings come in a review published on Wednesday by the regulator looking into ‘host’ ACDs, also known as authorised fund managers (AFMs). view full article
FCA report highlights failures in ACD market – Portfolio Adviser Read More »
“We wanted to test the viability of the host Authorised Fund Manager (AFM) business models and assess whether conflicts of interests were being effectively managed.” “From Q4 2019 to Q4 2020, we visited a sample of host AFMs to review the effectiveness of their governance, controls and monitoring. These firms operate a significant number of
Review of host Authorised Fund Management firms – FCA Read More »
Baillie Gifford has published a value assessment report for its Ireland fund range, in a move that could increase pressure on rival firms. The report has been prepared in response to a July 2019 letter from the Irish regulator to fund board chairs “requiring” them to carry out a “regular assessment of fund performance and
Baillie Gifford publishes Irish value report, upping pressure on peers – Ignites Europe Read More »