IMA chief: How we plan to make fund charges more transparent

IMA chief executive Daniel Godfrey (pictured) discusses the trade body's initiative to clarify fund charges.

Today the IMA issues a public consultation on our "Statement of Recommended Practice" (or "SORP") for the Annual Report & Accounts of UK Authorised funds. Whilst a SORP doesn't sound particularly sexy, this one represents a significant milestone on the road to the provision of a simple, all-inclusive, pounds and pence number that will give investors a good sense of what the cost of holding units in a fund has been and which they can compare to their investment return to begin to get a sense of value. The SORP proposes that all Annual Report & Accounts should contain tables that set ou...