open-ended funds

Changes to fund boards not enough to make a difference

Mistake for investors to assume small size as problematic

Property devaluation could spark further outflows

ESMA to publish new guidance by June

Baille Gifford's James Budden

October 2018 worst selling period in two years

In line with adviser feedback

Closed-ended vehicles considered less risky

Also flags enhancement to RDR reforms

Nick Britton, head of training at the AIC, compares the historical volatility and risk of investment companies and open-ended funds.