interactive investor is calling for new rules requiring fund managers to disclose how much they have invested in the funds and investment trusts they manage to increase transparency regarding their "skin in the game".
The direct-to-consumer investment platform has written to the Financial Conduct Authority and the Financial Services Consumer Panel, calling for measures to be brought in similar to those in the US. In the US, the SEC has required fund managers to disclose how much they invest in their own funds, "to help investors assess the extent to which the portfolio manager's interests are aligned with theirs" and the UK should be looking to do the same, ii said. The SEC requires fund managers to disclose their financial interest by band, rather than precise amount. The bands are: none, $1-$10,0...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
