View more on these topics

Kay: Fund managers should scrap quarterly and interim reports

Professor John Kay says fund groups should not be forced to publish quarterly interim managed statements, claiming they add little value.

Speaking at an Association of Private Client Investment Managers and Stockbrokers conference in London, Kay said investors would be better served by regular meetings with fund managers at intervals of three to five years.

He said: “The removal of quarterly and interim reports would be as much a symbolic act as anything. This kind of information is in a large part just noise.”

Kay argued fund managers should be encouraged to develop relationships with customers and companies to move from a transactional-based culture to a relationship-based one.

He said: “I would like to see the industry required to behave according to fiduciary standards, by putting the client first and avoiding conflict of interest where possible, and where conflicts are unavoidable disclosing them and ensuring they are not an occasion to profit.”

Philip J Milton & Company managing director Philip Milton says: “To be absolutely frank, fund management firms that fail to put their customers interests first will ultimately see their business die a death, as is the case with all businesses.”



Sanlam acquires two more IFA businesses

Sanlam Private Wealth has acquired two new IFA businesses for an undisclosed sum. The firm has bought Professional Connection, which has 500 clients and £71m under advice and Berkeley Associates, a firm with over 450 clients and £26m in advised assets. Sanlam UK head of marketing Giles Cross says: “Sanlam will continue to offer owners […]

Rory Percival FSA

FSA warns on ‘systemic misselling’ from poor DFM risk mapping

The FSA has warned advisers using DFMs run the risk of ‘systemic misselling’ if their risk profiles are not correctly mapped against those of the outsourced investment solution. Speaking at a Defaqto DFM conference today, FSA technical specialist Rory Percival said the regulator has seen evidence that some advisers are not ensuring the risk profiles […]

Crossparty support for build to let sector

Housing minister Mark Prisk, together with the shadow housing minister Jack Dromey, will cite build-to-let as crucial to meeting the UK’s future housing needs today. The crossparty support for the build to let sector comes ahead of the British Property Federation Residential Conference today where both men will be speaking. The flagship policy provides a […]

Rayner Spencer Mills: Why we rate the Artemis Global Growth Fund

Ken Rayner and Graham O’Neill from RSM explain why they rate the fund, its investment process and how it can be used in a portfolio. The Artemis Global Growth Fund became a RSM ‘rated’ fund earlier this year. In this video, Ken Rayner and Graham O’Neill explain the fund’s investment approach, why they rate it, […]


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 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