Actively-managed funds 'overcharging' investors by £6.7bn a year

Fund managers could be overcharging UK investors an estimated £6.7bn a year for active funds which underperform their benchmarks, according to research from financial adviser Salisbury House Wealth.

The firm calculates that of over £1trn invested in funds in the UK, £924bn sits in active funds, around three quarters of which failed to beat their benchmarks. The assets sitting in these underperforming...