JPM's Berens: AMC will be dead within a year

clock • 2 min read

Fund groups are set to come under fresh pricing pressure ahead of the ‘death' of AMCs, JP Morgan Asset Management's Jasper Berens has said.

The group’s head of UK retail expects the widespread use of annual management charges (AMCs) will be phased out by summer 2015, as calls for a clearer cost figure on funds intensify. Berens’ comments follow the Financial Conduct Authority’s review of fund fees in May, in which the regulator criticised some fund groups for inconsistent cost disclosure, and emphasised the importance of prioritising the Ongoing Charges Figure (OCF) over AMCs. The Investment Management Association, which suggested a switch from AMCs to OCFs as far back as 2012 as part of its voluntary guidance, stepped up...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Investment

Aegon AM launches UK-domiciled global income fund

Aegon AM launches UK-domiciled global income fund

In response to client demand

clock 27 June 2025 • 1 min read
CCLA's Charlotte Ryland and Joe Hawkes: How to position for the end of the 90-day tariff pause

CCLA's Charlotte Ryland and Joe Hawkes: How to position for the end of the 90-day tariff pause

Focus on quality

Charlotte Ryland and Joe Hawkes
clock 26 June 2025 • 4 min read
Almost half of UK investors using social media for financial advice

Almost half of UK investors using social media for financial advice

Many sources 'unregulated and unverified’

Sorin Dojan
clock 23 June 2025 • 2 min read
Trustpilot