Why we won't plead guilty to these charges

INVESTMENT TRUSTS

Ian Sayers, director general of the Association of Investment Companies (AIC), hits back at critics of its proposed 'Ongoing Charges' label to replaces TERs.

Last week the AIC published its new methodology for calculating ‘Ongoing Charges’, to replace Total Expense Ratios. Trying to find a single methodology to cover the whole investment company sector was never going to be easy. It is one of the attractions of investment companies that they are more diverse than open-ended funds and one of the reasons our long-term performance is so much better. Rules that are easy to accommodate in the world of listed shares are not always easy to read across to private equity, property and so on. But we got there in the end. So, while I never expe...