Aberdeen's Fleming: Fee pressure is not going away, but active managers can still get good pricing

Response to FCA study

Aberdeen Asset Management's global head of distribution Campbell Fleming has said although asset managers may not have welcomed the increased regulatory burden on the back of fund charging reforms, they are essential to ensure the future of the industry.

Speaking to Investment Week ahead of the announcement of the group's proposed merger with Standard Life, Fleming said "pressure on fees is here to stay" but that does not necessarily mean managers need to offer their services cheaply. "You may not like the unintended consequences of these [fee] reforms but the direction of the reforms has been needed," he said. "Stronger capital bases, more client focus, emphasis on risk and efficiency, costs, value and transparency - we are all embracing that. "The pressure on fees is here to stay, but what we are seeing is that if you can deliver...