IMA chief admits progress on charges transparency 'slow'

The Investment Management Association (IMA) plans to complete work to improve charges disclosure and introduce an effective statement of principles by the end of the year, the organisation's chief executive has said.

Speaking at the Rethinking the Economics of Pensions conference, Daniel Godfrey (pictured) said the IMA's proposal for a simple ‘pounds and pence' reporting metric would be considered by the Financial Reporting Council (FRC) this month. He added it would be a "significant fail" if a short statement of principles to help investors hold IMA members to account was not in place by the second half of the year. > Watch: Exclusive interview with Daniel Godfrey < Godfrey said both projects were taking longer than expected, but were vital to improving the way the asset management industry w...