Dilution levies are a priority issue for IMA

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IMA working party is examining fund governance, while disclosure is a lesser priority

Richard Saunders, chief executive, IMA Sir, In an editorial last week, 'Dilution levies are more important to fund investors than disclosure', Investment Week took the IMA to task for getting its priorities wrong. Apparently we are devoting our energies to the fruitless task of devising an industry standard for portfolio disclosure. Unfortunately for a good story, this is entirely wrong. Portfolio disclosure is not a high priority issue for the IMA. Our concern in this area is that fund managers should not treat some investors more favourably than others. Therefore if multi-managers have...