IMA issues guidance on post-RDR performance data

The Investment Management Association (IMA) has urged fund groups to roll over past performance of existing fund retail classes to new ‘clean' RDR share classes.

The IMA has issued a guidance note to members, recommending fund groups retain the impact of higher fees of existing classes on performance data. The trade body argues the guidance will encourage a consistent approach among asset managers in the way they report past performance for RDR share classes to investors. Jane Lowe (pictured), the IMA's director of markets, said: "Current ESMA rules leave it to individual asset managers to choose how they present past performance information for the new RDR share classes. However, it is important the industry adopts a consistent methodology fo...