Date: 5th October 2016
Author:
Type: In the news
Investment firms charging fees for the active management of funds that in reality behave more like index trackers are coming under renewed pressure in Europe.
One campaigner representing four million savers in the region has pledged to “name and shame” so-called closet-indexing funds. Guillaume Prache, the managing director of European investment lobby group BETTER FINANCE, said: “Investors still don’t know which are the culprits, which are the falsely active funds.”
He described this as “a big failure in individual investor protection” in the EU.
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