Date: 5th October 2016
Author:
Type: In the news
The Swedish government is to become the first in Europe to formally investigate closet-tracking funds that charge high fees for active management but do little more than mimic an index.
No other national authority has formally investigated the issue. It has received more attention in Sweden after the Swedish Shareholders Association (Aktiespararna, member organisation of BETTER FINANCE) launched a class-action lawsuit in December against the country's second biggest asset manager, accusing it of mis-selling closet-tracking funds to retail investors.
The CEO of Aktiespararna, Carl Rosén, and the managing director of BETTER FINANCE, Guillaume Prache, gave their opinion on the investigation in the article.
The text is available here.