Autif looks to enhance sales stats

Autif is considering categorising fund supermarkets as an individual distribution channel to avoid d...

Autif is considering categorising fund supermarkets as an individual distribution channel to avoid distortions in its Isa and unit trust sales figures, writes James Phillipps. Currently Isa business coming through fund supermarkets is reported by fund managers as unit trust business, rather than Isa sales, because the fund supermarket is the Isa manager, rather than the fund manager. Given that fund supermarkets are not under any obligation to report their sales figures to Autif, an increasing proportion of Isa sales are being wrongly recorded as unit trust sales. Clare Arber, head o...