Gosling's Grouse: Acronymed out

Acronymed out

There is a certain weariness about an organisation that is an acronym - the FCA - bringing yet another acronym to the fore, as it is effectively doing with the OCF.

The OCF – Ongoing Charges Figure – is another attempt by the regulator to allow investors to accurately compare fund costs. It is hard to argue against the principle, but the weariness comes in the way the regulator is trying to do it. Even the acronym itself makes little logical sense to the uninitiated, ie the consumer. Surely if we need another acronym it should be OFC – Ongoing Fund Charges? The IMA has been right in its attempts to get its members to come up with a number in pounds, shillings, and pence because it is a simple number which should resonate with consumers. The cu...