Opinion: Spotlight shifts to judging the fund judges

Renewed focus from the FCA on fund selectors

The asset management industry has long been under the regulatory spotlight, but until now product providers have been the key targets of supervisory bodies.

However, the Financial Conduct Authority's (FCA) recently published Asset Management Market Study and its current Investment Platforms Market Study have also placed consultants and fund research providers firmly under the microscope. This renewed focus on conflicts of interest and whether they add value with their propositions is now exerting fresh pressure on them to justify their worth and the significant role they play in the industry. In its original report, the FCA criticised fund selectors for failing to add value for the end client, saying "on average, consultants are not able ...