Active funds must cut charges to be competitive in growing market

Asset managers must look to cut charges on active funds to ensure they remain competitive as more lo...

Asset managers must look to cut charges on active funds to ensure they remain competitive as more low-cost vehicles enter the marketplace, HSBC's Andy Clark believes. Clark, HSBC Global Asset Management's wholesale managing director, says charges are excessive on the majority of funds and asset managers, platforms and advisers need to look at reducing the impact on clients. Speaking at the Cofunds Platform conference, Clark said fund charges need to drop from a typical 1.5% to about 1.25% or even 1% in some cases. While the RDR will bring unbundled charges - showing the costs from fun...