View more on these topics

Godfrey in call for more disclosure on split-caps

AITC director general Daniel Godfrey has called for greater disclosure across the splitcapital investment trust industry in a bid to prevent a repeat of the market panic of the past month.

Godfrey says that while much of the information on split-cap trust holdings is already publicly available through stock exchange ann-ouncements, he believes there is a case for making details of cross-holdings more easily accessible.

He stresses, however, that any greater disclosure regulations should be minimal, with fund managers understandably sensitive about being forced to publish complete lists of trust holdings.

Godfrey says he believes cross-holdings are naturally likely to become less of a problem, with many split-caps set to unwind these over the coming months. He says: “Clearly, there is a need for as much information and education on splits as possible so investors understand the risk and advantages at the same time.

“Second, we are also talking to our members about how they could have more regular information provided to the market about what holdings in other splits individual splits have. This information is mostly already available thr-ough the stock exchange ann-ouncement system. But we are looking at how that could be made more readily available. There are downsides to fund managers providing too much information.”

Jupiter head of investment trusts Andrew Watkins bel-ieves the industry is already transparent but is not opposed to any further disclosure. He says: “I am not against disclosure of any means. If there is a need for more disclosure, I would certainly be in favour.”

Recommended

Parliamentary ombudsman to investigate FSA over Equitable

The parliamentary ombudsman is to investigate the role of the FSA in managing the Equitable Life debacle, in a move that could see policyholders receiving state compensation.Parliamentary ombudsman Michael Buckley has written to MPs telling them he will conduct an investigation into the actions of the FSA between January 1, 1999 and December 8, 2000. […]

Inside Edge – Tony Kempster

“Is increasing revenue the key business issue for IFAs rather than reducing costs?”No doubt many readers will recognise this as one of the questions posed by the Sandler review. It is indeed an important question and how it is interpreted is even more important. But let&#39s say any provider in the industry was to ask […]

&#39Consumers do not know they pay IFA commission&#39

Many consumers do not understand they pay for their advisers&#39 commission through charges, believing providers pay the costs of remuneration, according to Ron Sandler.Responding to IFA questions in this week&#39s Money Marketing, the man heading the ongoing review into medium-term and long-term savings, which covers the impact of commission bias, says the complexities of commission […]

Watchdog staff get training to help advisers

The Financial Ombudsman Service is improving staff training for complaints handlers dealing with IFA cases as part of its drive to understand intermediaries and their clients better, according to Aifa.Speaking at network Positive Solutions&#39 conference in London last week, Aifa director general Paul Smee said the move could save IFAs money wasted on case fees […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com