Wednesday 26 September 2012
IMA RESPONDS TO MARTIN WHEATLEY’S COMMENTS
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. 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. In addition, 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.”
For further information please contact:
Navdeep Sidhu, Press Officer
020 7831 0898 or 07843 517 618
Mona Patel, Head of Communications
020 7831 0898 or 07834 089332
About the Investment Management Association
- The IMA is the trade body for the UK's £4.2 trillion asset management industry (retail and institutional) which is one of the world's leading investment management centres.
- Our role is to represent the interests of the asset management industry to government and regulators both in the UK and internationally.
- The money our members manage is in a wide variety of investment vehicles including authorised investment funds, pension funds and stocks and shares ISAs.