FCA value assessment review: An 'uncomfortable read' but unsurprising

‘Too many firms see it as a compliance project’

James Baxter-Derrington
clock • 5 min read
The FCA report found firms had “not gone far or fast enough”
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The FCA report found firms had “not gone far or fast enough”

The Financial Conduct Authority’s (FCA) recent review of fund managers’ Assessment of Value (AoV) reports makes for “pretty damning” reading and marks a “huge blow” to firms, although the findings are unsurprising to some industry commentators.

The report made for a "very uncomfortable read" for Boring Money CEO Holly Mackay, who said it showed a regulator asking that fund managers "fundamentally re-assess how they report objectives and measure value". FCA warns of potential intervention after damning review of fund value assessments While the report raised concerns about fees and charges in relation to fund value, Mackay noted the FCA also called out performance reporting in relation to a "generic fund objective", which is "not sufficient to cite value delivery". "Value managers will also sit up and take note that the FC...

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