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IMA sets up consumer comparison site and may add risk ratings

The Investment Management Association is setting up a fund comparison website for consumers and is considering developing risk ratings for funds in the managed sectors.

The site, set for launch in March, will enable investors to compare funds using searches based on minimum investment, minimum monthly savings and IMA sectors. A spokeswoman says the IMA is considering developing risk ratings for managed sector funds.

She says: “The team is looking at ways you can measure risk for funds in the managed sectors.”

She says if the IMA does not develop a suitable risk-rating process for the managed sector, it will rely on the European Securities and Markets Authority’s synthetic risk reward indicators which will be added to the website in the summer. SRRIs are based on volatility using weekly or monthly returns covering the previous five years. All funds will be required to publish these on their key investor information documents by July 2012.

An IMA spokeswoman says: “The site will be where investors go to work out whether funds are a suitable option.”

Fowler Drew founder and director of investment management Stuart Fowler says: “It would be extremely difficult for first-time investors to select a suitable balanced or managed fund without an adviser.”


FSCS levy refunds delayed due to incomplete resubmissions

The Financial Services Compensation Scheme’s review of refunds for firms that were overcharged for the interim FSCS levy has been delayed and will now run into next year. It had hoped to issue all refunds by the end of December. The collapse of Keydata triggered a £326m interim industry levy in January, with advisers paying […]

NAPF wants 2017 auto-enrol review postponed

The National Association of Pension Funds is calling for a delay to the 2017 review of auto-enrolment, following the Government’s decision to postpone the extension of the scheme for small businesses. Any employer that is expecting to auto-enrol their staff after July 2013 could see their staging date pushed back. This could include businesses with […]


Age UK to return NHFA commission to clients

Age UK has confirmed it is to return any commission relating to Nursing Home Fees Agency misselling back to clients it recommended to the HSBC-owned firm. On Monday, the FSA issued the largest ever retail fine of £10.5m against HSBC because of inappropriate investment advice provided by NHFA to 2,485 elderly customers between 2005 and […]

£40M bill for HSBC misselling

The FSA has fined HSBC £10.5m for misselling investment products to elderly customers through its long-term care advice arm Nursing Homes Fees Agency.HSBC estimates a further £29.3m will be paid to NHFA customers in compensation. Between July 2005 and July 2010, 2,485 NHFA customers were advised to invest in asset-backed investment products, typically investment bonds, […]

Healthcare regulation amalgamation predicted for Gulf states

While Dubai is leading the way in terms of legislating for expat healthcare in the Gulf, Qatar, Abu Dhabi and others are watching and learning – that’s according to Jelf International’s director of international services, Doug Rice. He believes the pace of change in the Gulf states will continue and that some level of unified healthcare system will be introduced across the region.


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There is one comment at the moment, we would love to hear your opinion too.

  1. Joe Egerton (Justice in Financial Services) 8th December 2011 at 9:30 am

    All very interesting, but will FOS accept the new IMA risk ratings as a basis for an IFA to give advice?

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