fund platform

Adviser firm Dennehy Weller & Co has launched a research-based fund platform for self-directed investors.

Fidelity FundsNetwork has become the first supermarket to launch an unbundled pricing model.

Terry Smith, the City veteran and founder of low cost fund management group Fundsmith, has attacked platforms in the UK for adding to the overall cost of investing in funds.

The Tax Incentivised Savings Association (TISA) has completed the initial stages of its platform re-registration project, and a contract club will now have responsibility for delivering electronic transfers.

The FSA will release a platform consultation paper within the next couple of months setting out draft rules on rebates and regulations for execution-only platforms, after Deloitte completed its research into the sector.

PLATFORMS

The FSA's understanding of the platform industry has again been called into question after it sent an "odd" questionnaire to operators quizzing them on their relationship with fund managers.

The FSA has deployed the services of Big Four accountancy firm Deloitte to quiz platforms about its proposed ban on fund manager and cash rebates.

Invesco Perpetual is to launch commission free share classes across its range by mid-2012, but will continue to pay a platform rebate.

Fidelity FundsNetwork is launching a new third party discretionary management service for advisers.