FCA proposes 'all-in' fund fee/further work on platforms and advisers/'shining light' on poor funds

The Financial Conduct Authority (FCA) has suggested a raft of measures to improve "weak price competition" in a number of areas of the asset management industry.

In the interim report of its Asset Management Market Study, published today, the regulator identified a number of issues which need addressing. In particular, it was critical of "considerable price clustering" for active equity funds, the performance of many actively-managed funds, how information on charges and fund performance was communicated (including for absolute return vehicles) and the role of consultants. Key proposals include an 'all-in' fund fee, with four options for how this might work in practice, and improved communication about charges and their impact on performance. ...