The issue of closet tracker funds charging high fees for poor performance has been a recent gripe of the Financial Conduct Authority, writes Peter Elston, CIO of Seneca Investment Managers.
It is a primary concern for them as they seek fairer outcomes for investors, with the intention of forcing these funds to make it clearer that they are in some way constrained. Gosling's Grouse: Closet compensation...
Schroder Income Maximiser dethroned
Funds reach their three-year anniversaries
Chris Hill's letter to Treasury
Across four divisions