View more on these topics

Wells Street Journal: Ignorance is bliss as hunt is on for elusive OCF

Despite industry and regulatory calls for fund groups to enlighten investors by referring to their funds’ ongoing charge figures rather than to the less indicative annual management charge, it appears asset managers and their PRs are yet to get the message.

With about 2,348 fund launches per week, Wells Street Journal research has shown 98 per cent of press releases fail to include an OCF and 93 per cent of PRs actually think OCF is an American hip-hop artist.

On an almost daily basis, journalists at WSJ sister-title Fundweb have been forced to pursue fund group representatives for correct figures, only to hit a wall of ignorance.

WSJ is now appealing for all fund groups to ensure every fund launch contains the full charge disclosure, which they are legally required to include on their key investor information documents.

In the event this warning is not heeded, the WSJ may have to name and shame the offending firms and even call in FCA chief Martin Wheatley, who is believed to be prepared to scour every fund launch press release to ensure the correct charge figures are included.

Wheatley was unavailable for comment.



Richard Buxton: No euphoria please – we’re British

As Wall Street notches up new record highs with monotonous regularity, the UK stockmarket remains firmly stuck in a trading range, with seemingly no appetite to make an assault on the old high of 15 years ago at just below 7,000 on the FTSE 100. Far from any sense of euphoria or irrational exuberance among […]


FPC: Stress test rules could push borrowers to longer fixes

The Financial Policy Committee believes new stress testing requirements will push more borrowers towards longer-term fixed rates. Last week, the FPC – the Bank of England committee tasked with safeguarding financial stability – recommended lenders stress test borrowers’ affordability as if base rate was at least 3 percentage points higher at any time over the […]


Will the UK be able to protect the City from Europe?

He still has to be rubber stamped by the European Parliament later this month, but former Luxembourg president Jean-Claude Juncker looks set to lead the European Commission for at least the next five years. Much ink has been spilled over what this means for the UK’s efforts to reform the European Union. As a federalist, […]


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