Industry veteran Neil Woodford has become one of the first fund managers to stop charging clients for research, paving the way for further changes around fee transparency in the asset management industry.
Woodford's company, Woodford Investment Management, will now absorb research costs on the £8.3bn Woodford Equity Income fund, rather than charging them to investors. Woodford: We will not make the same mistakes as other fund managers The asset manager said the move forms part of a new initiative to be open and transparent on all the costs associated with running an actively-managed fund. Woodford IM highlighted the main way investors currently compare costs is the ongoing charges figure (OCF) quoted on fund factsheets and other investor information. However, it noted this figure...
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