Over 110 senior investment professionals have backed a letter sent by three members of the House of Lords and an MP calling for a change to the way investment trust cost disclosure rules are interpreted.
In a letter to The Times, Sharon Bowles, Ros Altmann, Bryn Davies and John Baron argued that UK investment companies have been facing a "deepening crisis" over the last two years. They said investment trusts have been "shunned" by investors and platforms because of EU regulation, as they remains on the UK statute book, despite not applying to any listed investment companies in Europe. FCA sets out temporary measures to address investment trust cost disclosure concerns "Under UK interpretation, investors are told that management charges are an additional cost, which is misleading," ...
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