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Fund bodies developing new trading costs code

A new disclosure code on trading costs for fund managers is being developed jointly by the National Association of Pension Funds and the Fund Managers’ Association.

The code will build on the ten sample questions devised by Paul Myners concerning commissions and other costs that pension scheme trustees are required to ask their fund managers.

NAPF’s Investment Council chairman Alan Rubenstein says: "At a time when many in the pensions industry still have concerns about parts of the Myners report, this innovative project will provide a practical framework to help trustees and their fund managers review their trading costs.”


Autif to merge with FMA

Autif is set to merge with the institutional trade body, the Fund Managers Association.In a joint statement released this week, the two trade bodies confirmed they were in talks, and were planning on a merger during the first quarter of 2002.Autif represents the maangers of authorised unit trusts and Oeics, with its members accounting for […]

Jailed after FSA action

A businessman posing as aone-man bank has been jailed for contempt of court in High Court proceedings brought against him by the FSA.John Edward Rourke of Colne, Lancashire has been found by the High Court to have accepted up to £300,000 in deposits and made false statements to persuade individuals to hand over money.Rourke convinced […]

Hints on homebuying

Legal & General has published a free consumers&#39 guide to moving home.It explains issues such as the difference between freehold and leasehold, tenancy arrangements and the purpose of conveyancing. The guide also includes a section on the buying process from making an offer to completion.Mortgages are described and there is a section on insurance and […]

Moore&#39s code

“Do you think this is it?” a colleague asked despairingly as we picked up copies of Ronnie Baird&#39s fascinating report into the FSA&#39s handling – or should that be mishandling – of the Equitable Life mess. I had to reply in the negative.After reading the report, however, my interest was tweaked anew. Sir Howard Davies […]


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