View more on these topics

Research: 80% of investment giants publish out of date data


Eight out of ten of the biggest fund groups are handing investors outdated performance information, a new survey finds.

According to fintech company Instinct Studios, 80 per cent of the largest asset managers have fund factsheets that are six weeks out of date.

Instinct Studios reviewed 10 factsheets on the providers’ websites on 10 September 2015 finding that they included most current performance data to 31 July 2015.

Standard Life Investments was the firm with the most up-to-date fund information, for its UK Equity Growth fund, including data to 31 August 2015.

The Fidelity UK Smaller Companies fund published its performance to 9 September 2015 but on its website rather than on a factsheet.

Instinct marketing director Jeremy Mugridge says: “It’s high time that financial services embraced the benefits of offering up to date, user-friendly digital information before the regulator and consumers lose patience and force their hand.”

Further research for Instinct found that simplification on fund factsheet information was needed. Some 21 per cent of the 100 advisers interviewed said information on fund factsheets are complex, 17 per cent said they are out of date and 14 per cent found them confusing.

Only 22 per cent of retail investors read the fund information in detail and 24 per cent fully understand the fund information, the research also shows.

Mugridge adds: “Our research has found that many retail investors feel that the fund information supplied by providers can be unappealing and hard to understand which is to be expected when even some professional advisers find it confusing.”

The Investment Association agrees that more work needs to be done to improve fund factsheet information.

The industry group says: “The question over how we can better present fund information and make it easier to understand is one that the industry is exploring very seriously and we are open to receiving help and input from users of the information, such as advisers, so that we can ensure we are communicating more effectively.”

Factsheet research:

Fund Group Fund name Data as at date
BlackRock UK Fund 31-Jul-15
Standard Life Investments UK Equity Growth Fund 31-Aug-15
M&G UK Growth Fund 31-Jul-15
Invesco Perpetual High Income Fund 31-Jul-15
Fidelity1 UK Smaller Companies Fund 09-Sep-15
Henderson Cautious Managed Fund 31-Jul-15
Legal & General Investment Management UK Equity Income Fund 31-Jul-15
Schroders Asia Income Fund 31-Jul-15
Old Mutual Global Investors UK Equity Fund 31-Jul-15
Jupiter UK Special Situations 31-Jul-15

The factsheets were sourced from the providers’ websites on 10 September 2015. 1 Fidelity website did not include a standalone factsheet, but did include fund performance data


Iress: Lessons from the Avelo acquisition

An awful lot can change in two years. The Conservatives have won an overall majority in the general election and we have also seen the biggest shake-up to pensions regulation in a generation. Things have certainly not stood still for advisers or, indeed, for Iress. As a business, we are now two years in from […]


Majority unaware of pension charges

More than half of working age people have no idea whether or not they are being charged by their pension provider, new research suggests. A YouGov poll of 1,256 working adults aged 65 and under, commissioned by automatic enrolment provider The People’s Pension, found 51 per cent do not know if their existing provider levies […]

Tony Wickenden: Tax avoiders take notice

Last week I wrote about partnership payment notices and the failure of a challenge to their issue by way of judicial review. PPNs are the partnership version of accelerated payment notices, which are, of course, a fundamentally important part of HM Revenue & Customs’ drive to improve cash flow. And a pretty impressive drive it […]

Life cover for life

When someone mentions whole of life plans, most people will think of a niche product that serves as an inheritance tax planning tool for high-net-worth clients. And it’s really not surprising they’ve been pigeonholed in that waybecause before the arrival of RDR in 2013, that’s more or less exactly what they were. For advisers thinking […]


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