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Enhanced disclosure guide

In September 2012, the Investment Association issued voluntary industry guidance on enhanced disclosure of charges and costs incurred by UK-authorised funds. The additional information outlined in the guidance complements current European regulatory requirements but it cannot alter details already being provided in the Key Investor Information Document (KIID).

The aim of the guidance is to provide easier access to information on fund charges and costs. In following the guidance Managers should provide a single location where entry and exit fees, on-going charges and performance fees are displayed and explained. In addition the transaction costs incurred when buying and selling underlying investments should be displayed together with explanations of how these affect investors’ returns. All of this information should be made readily accessible for investors, for example, by clearly signposting it on company websites.

Investment Association Member firms representing 87% of total retail funds under management have informed us that they are following the guidance.

Investment Association members who have informed us they are following the guidance:

  • Aberdeen Unit Trust Managers Ltd
  • Aberforth Unit Trust Managers Limited
  • Allianz Global Investors
  • Architas Multi-manager Ltd
  • Artemis Fund Managers Ltd
  • Aviva Investors UK Funds Ltd
  • AXA Investment Managers UK Limited
  • Baillie Gifford & Co
  • Barclays Wealth Funds Ltd
  • BlackRock Investment Management (UK) Limited
  • BNY Mellon Fund Managers Ltd
  • Capita Financial Managers Limited
  • City Financial Investment
  • Close Brothers Asset Management
  • Columbia Threadneedle Investments
  • Consistent Unit Trust Management Company
  • F&C Investments
  • Family Investment Management Ltd
  • Fidelity Investments Worldwide
  • First State Investments (UK) Ltd
  • Franklin Templeton Funds
  • Henderson Global Investors
  • HSBC Global Asset Management (UK) Limited
  • Ignis Fund Managers Ltd
  • Invesco Perpetual
  • Investec Asset Management Ltd
  • J O Hambro Capital Management Group
  • JP Morgan Asset Management
  • Jupiter Unit Trust Managers Ltd
  • Kames Capital
  • Legal & General (Unit Trust) Managers Limited
  • Liontrust Fund Partners
  • M&G Securities Ltd
  • Newton Investment Management
  • Orbis
  • Phoenix Fund Services UK Ltd
  • Premier Portfolio Managers Ltd
  • PSigma Unit Trust Managers Ltd
  • Rathbone Unit Trust Management Limited
  • Royal London Unit Trust Managers Ltd
  • Schroder Unit Trusts Ltd
  • Smith & Williamson
  • Standard Life Investments Ltd
  • St James's Place Unit Trust Group Ltd
  • SWIP Fund Management Ltd
  • T. Bailey Fund Managers Limited
  • Vanguard Investments UK Ltd
  • Wesleyan Unit Trust Managers Ltd