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U.K.: FSA: Fund groups should compete on fees not future performance

By  |  September 26, 2012

Martin Wheatley, the Financial Conduct Authoritiy Chief Executive Designate, has challenged fund managers to compete on lower fees rather than future performance. According to Mr. Wheatley, fund managers should be working more closely with advisers. He adds that the RDR aims to be a “catalyst” for the industry to focus on the charges issue, but acknowledges that not all costs are down to fund managers. He says that the question of why investment intermediation costs remain high, needs to be tackled.

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