According to recent research paper
Forcing KIID and prospectus changes
Re-evaluating fees and benchmarks
Critics of active investing had a field day recently when the FCA announced a group of investors were getting £34m in 'compensation' from so-called closet tracker funds.
Asset managers paid out £34m to investors
Asset managers pay out £34m in compensation
Follows criticism in Asset Management Market Study
The FCA's interim findings as part of its Asset Management Market Study, released last November, should have left the industry in no doubt about the direction of travel for the sector over the coming months and years.