Generation next: Elston’s Qiao on bouncing bonds and ‘true active’ investing
Elston Consulting fund selector Jackie Qiao discusses how she sees active funds evolving over the next decade
Elston Consulting fund selector Jackie Qiao discusses how she sees active funds evolving over the next decade
Industry mixed on whether FCA governance changes will help tackle closet tracking
FCA hands out £1.9m fine as ACD kept retail and intermediary clients in the dark
More than 180 funds fell under Esma’s definition of a closet tracker
The FCA says a third of the 64 funds that came under fire for closet tracking have made improvements in an online update.
The Financial Conduct Authority’s (FCA) action to make asset managers stump up £34m in compensation for “closet trackers” initially seemed like a win for investors, but the regulator has refused to name companies involved, even though one is facing an enforcement investigation.
The Financial Conduct Authority (FCA) has ordered asset managers to pay investors £34m in compensation after overcharging for “closet tracker” funds, in a move described as “hugely positive” for investors.
A campaign group has demanded asset managers explain charging active fees on funds which it claims could be so-called ‘closet trackers’.