FCA asset management market study - final report

28 June 2017

The FCA has published the final report of its asset management market study.

The headlines are:

  • A strengthened duty on fund managers to act in the best interests of investors.
  • A minimum of two independent directors on fund managers' boards.
  • A requirement to disclose a single all-in fee, plus standardised disclosure of costs and charges to institutional investors.
  • A working group on making fund objectives more useful; and on use of benchmarks and performance reporting.
  • A market study into investment platforms.
  • Final decision on whether to refer the institutional advice / consultancy market to the Competition and Markets Authority to be published in September.