IMA wlcomes FSA flexibility on simplified prospectus rules

Investment Management Association welcomes yesterday’s news from the Financial Services Authority that it has modified its proposed rules and guidance on implementing the UCITS Simplified Prospectus.

The rules will help fund managers to provide investors with clear and easy to understand information about collective investment schemes and will create a level playing field for funds across Europe. The IMA welcomes the detailed modifications that have been made in the light of consultation.

The Association, however, remains disappointed at the FSA’s decision to include reduction in yield (RIY) calculations as well as total expense ratios (TERs) for funds marketed in the UK and fears that the inclusion of two different measures of cost will not help investors.

See full Press Release.