View more on these topics

IMA calls for Euro fund standards

The Investment Management Association has urged European regulators and fund management companies to introduce a common accounting standard for investment funds.

Deputy chief executive Sheila Nicoll says investors would benefit if European firms adopted a standard approach to fund reporting and information.

She says: “Would it not be a major step forward for our investors if we had a standard way of presenting our accounts to investors and it would surely also streamline the way we do things if the same accounting standards applied at least across Europe?”

Nicoll says such a move would complement the proposed simplified prospectus in the new Ucits directive, which would introduce a single marketing document to be used throughout Europe.

As the directive does not allow funds to be measured and presented in a comparable way, however, she suggests the introduction of a European version of the IMA&#39s performance category review committee, which categorises funds.

Nicoll also criticises the directive for failing to address the way in which the industry presents charges and expenses, other than to recommend the use of total exp-ense ratios.

She says that, as there is not a common method of calculating TERs, the directive should recommend better ways for investors to make comparisons.

She says: “Even where such ratios are calculated, the fact that they are calculated on the basis of information published in annual reports, and those reports do not disclose the same information, means that there are question marks about comparability.”



“Yes. This does not affect us. We will make our own decisions on with-profits investments and see no reason to stop using them with our clients.”Trevor Rider, FMS South Park“Yes. There is definitely still a place in the market for these types of investments. There is no problem if customers are explained the details.”Chris Nokes, […]

With-profits face fundamental change under Sandler

With-profits products should be gutted with only the smoothing feature remaining according to the Sandler review team.While there is still a concept for the savings vehicle, the Sandler recommendations say they would see performance transparent, unnecessary jargon removed and competition pressures more effectively applied in the with-profits arena.His proposals go much further than the FSA&#39s […]

ABN and Framlington come to agreement

Star managers George Luckraft and Nigel Thomas will start work for Framlington in September after coming to an out of court agreement with former employer ABN Amro.The settlement comes just days before a court hearing, which was scheduled for July 15 after ABN took action following the decision by the managers to join Framlington around […]

T&G makes Sipp debut

Teather & Greenwood Investment Management TGIM SIPP Type: Full Sipp Minimum investment: Lump sum £75,000 Investment choice: All Inland Revenue permitted investments Administrator: Wolanski & Co Trustees Charges: Initial £350, annual £400 Commission: Subject to negotiation Tel: 020 7426 9003 The panel: Ian Anderson, Director, Silvesters, Bob Lawrence, pensions director, Duncan Clarke, Mike Humble, Regional […]

Unfinished business?

Pension specialist Fiona Tait gives an update on three big announcements from the 2016 Budget – Pensions Advice Allowance (PAA), the Lifetime ISA (LISA) and the pension dashboard. £500 Pensions Advice Allowance What’s new Under current rules it is possible to deduct an adviser charge from a defined contribution pension fund to pay for financial […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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 thought leadership.

    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