Monday 4th February 2019
Commenting on the FCA’s policy statement outlining the second set of remedies from the Asset Management Market Study, Chris Cummings, CEO of the IA, said:
“The IA supports the FCA’s aim to improve the clarity with which fund objectives, benchmarks and performance are communicated to savers and investors.
We are committed to increasing transparency and promoting clearer language across the asset management industry. Our customers should be able to easily compare fund information, so that they can choose investment products best suited to their needs.
We welcome the FCA’s acknowledgement of our forthcoming guidance in this area and look forward to working with the regulator and our members on implementation.”
Notes to Editors:
As part of the FCA’s Fund Objectives Working Group working group, it was agreed that the Investment Association (IA) would work with its members and consumer representatives, informed by consumer research, to promote the use of consistent terminology in communications from fund managers about their funds. The IA will publish its guidance on fund communication in February 2019.
PS19/4: Asset Management Market Study - feedback to CP18/9 and final rules and guidance
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