UPDATE – IMA belatedly admits that investors can’t find their charges
Speaking on Radio 4′s ‘Money Box’ on Saturday, Richard Saunders of the Investment Management Association – in conversation with Gina Miller on behalf of the True and Fair Campaign – finally admitted how hard it is for investors to see costs, such as dealing costs (which True & Fair refers to as ‘hidden’):
“They are in the report and accounts which is a document which I completely agree that most investors would never see. They probably don’t even know it exists. I think there is a good case for making those much more, much more prominently available to investors.”
Richard Saunders then went on to claim that the new European regulator disclosed charging measure – the ‘ongoing charge’ – did contain everything. However, it does not include performance fees, transaction costs, or entry or exit costs.
Listen to the full discussion on the BBC website (12 mins into the programme).
Posted By: True and Fair, 10:21 am