“Of course, every fund manager will go through weaker periods – whether that is a run of bad luck, or they are sticking to a style or process that may be temporarily out of fashion. Identifying whether these are short-term or structural factors is key and investors should ask some questions before deciding to stick with a fund or switch.”
Last week (August 10), the FCA pointed out that value assessments by some fund managers still needed to be improved, despite overall progress.
Going forward, the FCA said firms should make sure that their practice, including around delivering fair value, for other products and services is consistent with the various expectations arising from the consumer duty.
tara.o'connor@ft.com
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