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The introduction of MiFID II and PRIIPs in January and the conclusion of the FCA’s Asset Management Market Study in April have combined to bring a host of new disclosure rules for advisers and investors.

Regulators hope the new rules and initiatives will bring greater clarity to the charges levied by investment managers, increase consumer focus on charges and increase competition to bring costs down.

Reducing costs for investors is a worthwhile initiative, as the cumulative effect of charges can be substantial. It is to be hoped that anyshort-term increase in complexity, as the different rules become established, is offset by the benefits to investors.

But investment charges are not just about the basic figure, whether this is displayed as a percentage or in pounds and pence. As with every other business, what you get in return for the cost is just as important. In this issue, our Fund Manager Assessment team look at the role that cost plays when analysing a fund manager, and highlight why it is important to keep investment fees in perspective when considering who to manage clients’ money.

Price and costs have also dominated the commercial property sector in 2018. Rising costs, combined with cheaper prices from online retailers, have seen a number of high profile failures and business restructures from some well-known high street retailers. But the outlook for commercial property in general, and retail property in particular, is far from doom and gloom.

Another hot topic this year has been environmental, social and governance (ESG) investing. Interest in sustainable investing has been increasing steadily in recent months amongst consumers and institutional investors. But as Kaisie Rayner points out, further clarification and education on ESG investing, including its aims and potential impact on returns, is needed in order to fulfil its potential.

If you have any feedback please get in touch, or if there’s anything you’d like to hear more about, let us know.


Written by

IAIN MCGOWAN | Head of Fund Proposition

Other articles in this edition

A break from the opaque

The impact of regulatory change on investment management charges.

The six "P"'s of fund selection

What about price?

What is the outlook for retail property?

What does the future hold for Britains's high streets and out-of-town shopping centres?

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