How can asset managers address their assessment of value issues?
What the FCA’s revealing AoV report says about governance failings and how they can be remedied
The asset management industry has some big issues to address when it comes to fund governance as the Financial Conduct Authority’s latest probe identifies a host of flaws in fund group’s assessment of value (AoV) exercises.
The FCA’s review of the AoV market, published earlier this week, highlighted several areas where asset managers are falling short. It followed hot on the heels of a report last week in which the regulator was equally critical of ‘host’ authorised fund managers – the fund administrators expected to keep fund managers in check.
FCA report highlights failures in ACD market
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Shock and awe: Was CFA UK intervention in the assessment of value useful?
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Home / Analysis / Fund boards warned there’s more to showing value than just producing a report
Fund boards warned there’s more to showing value than just producing a report
Shiv Taneja thinks regulator will also want evidence of how company culture provides value
A fund governance expert has predicted the Financial Conduct Authority will expect fund boards to go further than just delivering reports to show value for money, as Rathbones and Vanguard score themselves near perfect marks on their second value assessments.
It comes as asset managers’ fund boards roll out their second annual assessments for the 2020 financial year. Rathbones and Vanguard recently published their reports and have largely given their fund ranges a clean bill of health.