Richard Saunders, IMA's CEO, said that the fund management industry has nothing to hide when it comes to charges. The EU rules under which it operates provide for full and detailed disclosure of the charges incurred in managing a fund.
Responding to Martin Wheatley’s comments at the FSA’s Asset Management Conference Richard Saunders, IMA Chief Executive, said: “We agree it is important that consumers should understand what they are paying for financial products. IMA has recently issued guidance to its members on enhanced disclosure of the costs incurred in buying and selling the underlying investments of a fund. No investment can be made free of cost. For ordinary investors, funds offer the ability to acquire a diversified portfolio at much less cost than investing direct in shares or other assets. And the industry will continue to strive to ensure that it is giving its customers value for money.”
Press release
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