Hargreaves Lansdown backs IMA fund charges initiative

Hargreaves Lansdown has thrown its weight behind an Investment Management Association (IMA) initiative urging groups to display total fund costs in a simpler, clearer manner.

IMA CEO Daniel Godfrey yesterday unveiled proposals to provide clearer information on fund charges and costs, and has encouraged members to sign up to the new code. Godfrey argues the fund houses could calculate total costs incurred by a fund on a retrospective basis and apportion costs on a per-unit basis, in order to obtain a single charging figure. Ian Gorham, CEO Hargreaves Lansdown, has given his backing to the move, saying it will help the industry win back customers' trust. "We support this IMA initiative and we hope that fund management companies will do the same. It is an ...