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Autif draws up new way to compare total costs

Autif is working on a new comprehensive method for calculating investment fund charges, to allow consumers to compare similar products easily.

The Total Investment Cost will go beyond the Total Expense Ratio, encompassing initial costs and annual charges.

Writing in the UK Fund Review 2001, director general Richard Saunders says although Autif has advocated the use of TERs in the past, he believes the existing method of using reduction in yield produces misleading projections.

Saunders highlights how the introduction of the APR revolutionised the consumer credit industry by building consumer confidence.

He said: “Not only do we have to be transparent, but any information needs to be presented in a way that investors can really understand.”

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