Kames CEO attacks FSCP's 'over-simplistic rant' on fund fees

Kames Capital chief executive Martin Davis has hit out at a recent Consumer Panel report that was highly critical of the structure of fund charges as "over-simplistic" and another "rant".

A damning report by the influential Financial Services Consumer Panel (FSCP), released this week, called on the regulator to implement "radical, structural reform" of how fund managers charge investors.  The panel aims to deal with what it describes as "widespread and persistent problems" of unclear and misleading fees in the industry. The FSCP, which represents consumer interests in the development of financial services policy, wants the Financial Conduct Authority (FCA) to force fund managers to distil the amount investors pay them into a single charge. All other intermediation c...