Asset managers have a long way to go until their fund objectives become fully useful, clear and consistent for investors, according to industry figures.
Stipulating that benchmarks used for funds must be relevant, the Financial Conduct Authority (FCA) also told asset managers last February they must aim for more clarity and consistency in their fund objectives. FCA warns asset managers: 'Act now' on LIBOR In its Asset Management Market Study, the FCA "found that objectives are not always as clear and helpful to consumers as they could be". The regulator urged asset managers "to explain what their funds are doing in consumer-friendly language". "Clear and helpful objectives should mean better-informed consumers making decisions ...
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