Fortnightly News Blog – 17 October 2023

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Consumer Duty crunch

In response to the Consumer Duty rules, interactive investor has restricted investments into funds or trusts that have been assessed as not representing value for money, Investment Week reports.

Costs quarrel

Disparity over the inclusion of costs incurred when funds invest in other funds has led to the Financial Conduct Authority (FCA) committing to review the disclosure requirements as part of its work on the Future Disclosure Framework, according to Ignites Europe.

Speakers’ corner

At the recent annual Mansion House dinner FCA chief executive, Nikhil Rathi, spoke of his support for plans to overhaul the London Stock Exchange’s system of company listings. Read the Investment Week article and the full speech is here.  And also worth a read is Chair, Ashley Alder’s speech at the Investment Association (IA) Annual Dinner, covering a UK regime for asset management. Read the speech and the Investment Week commentary.

Retail rejection

A draft report by Stéphanie Yon-Courtin, the MEP leading the European Parliament’s work on the EU’s retail investment strategy, suggests the European Commission value for money benchmark proposals should be rejected. Details on the draft report in Ignites Europe.


Sustainable Investment/ESG

Serving up sustainability?

As the transparency of ESG ratings is increasingly under the spotlight of regulators and politicians in Europe, Asia and the US, the Financial Times (FT) reports on the questions around whose interests the ratings really serve.

Positive path

Christian Staub, managing director for Europe at Fidelity Internationalairs his views in Ignites Europe on the Sustainable Finance Disclosure Regulation (SFDR) and whether it can reach its full potential.


Market News 

Sinking or swimming?

The IA’s latest investment management survey shows a fall in UK assets under management (AUM) between 2021 and 2022, but a retention of the market’s leading international position. Read the full report here, and the Investment Week reporting here.

Fee flux

New analysis from specialist fee research firm, Fitz Partners, finds that more funds have lowered their fees than raised them over the past 12 months. However, over 2,000 cross-border and UK mutual funds and share classes have increased their ongoing charges. Read the Ignites Europe reporting on the findings.

Advising impact

NextWealth’s latest financial advice business benchmarks survey has the latest on sales and acquisition trends, and the impact on recruitment of soft markets. Money Marketing has the quick overview.

iNEDs in focus

Trust Associates has published an iNED Fee report for Investment Trusts. Read the findings in its Newsletter.

Diverse developments

The investment trust ‘super-directors’ league table reveals that seven of the top eight directors with the most investment company board positions are women. Citywire reports. Meanwhile, Therese Chambers, the FCA joint executive director of enforcement and market oversight, explains its achievements in diversity as well as room for improvement in FT Adviser.  


Longer Read

Patrick Dunne, Chair and Author of award winning “Boards”, shares some useful tips and practical stats to show why conflict detracts from value and how we need reflection time to reduce conflict, in his recent Linkedin post

Several of the news outlet cited in this blog require registration or subscription. Also, FBC takes no responsibility for the accuracy or quality of the news in the links provided above, and nor are the views and comments representative of FBC or its members, unless expressly stated. Content stored on the FBC portal is freely accessible for FBC members.