IMA to launch consultation into portfolio turnover

The Investment Management Association is to launch a consultation into how fund groups disclose portfolio turnover rates as early as next month.

The trade body told Investment Week's sister title Professional Pensions that, as part of its work on making costs more transparent, it is working on an industry standard for the calculation of portfolio turnover rates. It said a standardised approach would enable investors to compare turnover rates on funds. Alongside this work, it is also planning a consultation into how bid/offer spreads can be better explained to customers. IMA chief executive Daniel Godfrey (pictured) said: "You will have an idea of the average spread on your portfolio and the portfolio turnover rate, which wi...