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Eighty per cent of managers subsidise fund expenses

Many cross-border managers distributing into Europe are covering their own funds’ operating expenses to keep client charges down as pressures in the industry mount, a new study reveals. Nearly 80 per cent of fund managers subsidise funds’ expenses, 19 per cent of the recorded subsidies also exceeds funds management fees, says a cross-border fund charges […]

UK GDP growth revised down

UK GDP growth for the first quarter has been revised down to 0.2 per cent compared to the 0.3 per cent reported in April. The fall was “mainly due to broad-based downward revisions within the services sector”, ONS said in its second estimate. In particular, consumer facing industries such as retail and accommodation fell and household spending slowed, partly […]