Issue raised by ESMA last week
Failed to be "open and co-operative"
What is indisputable is the issue of 'closet trackers' has long been a serious blight on the reputation of the whole active management fund industry.
- Woodford exits Royal Mail stake on regulatory concerns
- Angus Tulloch: 'You could hardly have got the timing better being in Asia for the past 25 years'
- Wealth managers warn over-regulation of 'closet trackers' may not solve Europe-wide problem
- Allianz GI acquires bond specialist Rogge Global Partners
- Invesco Perpetual's Barnett: The big opportunities and challenges for income investors