Why as an active manager, I welcome the FCA's asset management study

The FCA's involvement should be welcomed by active managers in terms of fund clarity and a greater focus on risk-adjusted performance from buyers, says Jon Gumpel, manager of the Brooks Macdonald Defensive Capital fund.

As the manager of an actively-managed fund in the absolute return sector, you might be forgiven for expecting me to be very concerned about the Financial Conduct Authority's (FCA) review of the asset management market. According to some of the commentary from the usual suspects that has accompanied its interim report, the FCA has "slammed" active managers (particularly absolute return) and much of the industry is about to be "redundant" in favour of passive solutions. All pretty alarmist stuff.  OMGI's Buxton: We are not over-earning as an industry However, reading the report itsel...