Morningstar has launched a stinging attack on the closed-ended funds industry, arguing the sector will not be able to compete with OEICs until it releases full holdings data on a regular basis.
The data provider said a number of investment companies have never disclosed their full portfolio holdings to shareholders, as there is no legal requirement to do so. Only 65% of investment companies provide Morningstar with their complete portfolio listings on an annual basis. Full and frequent disclosure of full holdings data is needed by financial advisers to ensure they are kept up to speed with the current positioning of their clients' assets, Morningstar argues. Jackie Beard, director of closed-end fund research at Morningstar, added advisers need transparency to safeguard cl...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
