Date: 5th October 2016
Author:
Type: In the news
On the 11th of March The Sunday Times published an article on closet indexers in light of the recent news of UK asset managers returning £34m following an investigation by the FCA uncovering widespread evidence of funds charging expensive management fees for doing little more that tracking their benchmark.
The article refers to important work conducted by BETTER FINANCE on the issue, and quote Chief Communications Officer Arnaud Houdmont praising the FCA for its courageous decision and stating that he hopes regulators on the Continent will follow suit by ordering refunds and exposing misleading funds.
To read full article: "Investors misled by by `cuckoo in nest` funds"