IMA Publishes Guidance on Enhanced Disclosure of Fund Charges and Transaction Costs

The Investment Management Association has issued industry guidance for enhanced disclosure of fund charges and transaction costs incurred by UK-authorized funds. The guidance is intended to assist consumers with their understanding of fund charges and costs, and follows a consultation launched in June.

Overall, the guidance suggests that firms should exceed the current European regulatory requirements by providing information on websites for each of their funds such as the disclosure of the ongoing figures charge (as opposed to the annual management charge).

Members are asked to implement these additional disclosures by March 31, 2013.