A review of 18 fund managers between July 2020 and May 2021, covering different business models and sizes, found most had not implemented Assessments of Value (AoVs) arrangements that met FCA standards. view full publication
Fund managers falling short on assessing the value of their funds – FCA Read More »
Around 52% of performance fee structures already adhere to ESMA performance fee recommendations, ahead of the restrictions that will come fully into force all over Europe in the coming year. Although all funds are not yet fully compliant with these guidelines, …[Fitz Partners]… research shows that many funds have seen their performance fee structures changed
Performance fee rules across Europe lacking harmony – Investment Week Read More »
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
FCA pushes asset managers to assess profitability – Ignites Europe Read More »
‘Schroders is starting to apply its approach to UK assessments of value across all its European and global fund ranges, according to its global head of product.’ ‘…Influenced by the approach of the UK Financial Conduct Authority, regulators in the EU have been intensifying their scrutiny of “the pricing process” and “undue costs”, which may
Schroders expands value review to European funds – Ignites Europe Read More »
Fitz Partners found that for retail investors invested in about 600 fund products, 51% of the total number of products with a remaining legacy retail class in place, had been moved to cheaper classes. The research also revealed that the discounts received by investors after they had been moved ranged from 24% to 67%, with
UK asset managers have cut at least £120m (€139m) in ongoing charges following the introduction of reforms that require firms to assess the value of their funds. New research by Fitz Partners, a specialist fee research firm, shows that investors in 600 funds have recently been moved to lower charging share classes. view full article
UK firms slash £120m in charges following value reforms – Ignites Europe Read More »
The European Securities and Markets Authority said yesterday that it has launched a common supervisory action on the supervision of costs and fees of Ucits with national competent authorities, which is to be conducted this year. The supervisory action seeks to “assess the compliance of supervised entities with the relevant cost-related provisions in the Ucits
Esma launches costs and fees probe – Ignites Europe Read More »
Europe’s markets watchdog is to work with national financial regulators to assess the costs and fees levied by Ucits funds and alternative investment funds, as part of its 2021 work programme. view full article
Esma to analyse fund fees with national regulators – Ignites Europe Read More »
Europe’s markets watchdog is stepping up its efforts to stop funds charging excessive fees to investors by putting pressure on national regulators to increase their supervision of management companies. The European Securities and Markets Authority yesterday published a report on costs in Ucits and alternative investment funds as part of its push to enforce convergence
Esma ups pressure on regulators to tackle excessive fund fees – Ignites Europe Read More »
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has published today a supervisory briefing on the supervision by National Competent Authorities (NCAs) of costs applicable to Undertakings for the Collective Investment in Transferable Securities (UCITS) and Alternative Investment Funds (AIFs). This briefing comes in response to the need to improve convergence across NCAs
ESMA Supervisory briefing on the supervision of costs in UCITS and AIFs – ESMA Read More »