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Confusion over the demise of UCITS KIIDs and the future of PRIIPs KIDs
The European Supervisory Authorities (the ESAs, made up of ESMA, EBA and EIOPA), have published a series of letters between them and the European Commission (EC), over the proposed ending of the exemption for UCITS KIIDs at the end of 2019.
10 Years On: Best Performing Sectors and Funds Since the Collapse of Lehman Brothers
Over the past decade, nine sectors achieved a first quartile performance ranking within the IA, four of which were smaller companies. IA Japanese Smaller Companies, IA North America Smaller Companies, IA UK Smaller Companies and IA European Smaller Companies were ranked second, third, fourth and sixth respectively.
Why is FE Invest the fastest growing DFM on platform?
FE’s discretionary model portfolio service was first launched on a single platform just over three years ago to offer Advisers a new breed of model portfolios; created jargon-free with a view to enhancing the Adviser – Investor relationship.
A golden opportunity to stand out from the crowd
Risk has never been a bigger issue for financial advisers. Not only do today’s financial advisers need to correctly assess clients’ attitude to risk and map it across to suitable portfolios – they also need to become risk management experts and ensure regulatory compliance. This blog will look at the issues raised in FE’s latest annual adviser survey, ‘Adviser business models - What lies beneath?’
UK Equities most researched funds amid Brexit uncertainty and threat of ‘no deal’
With a ‘no deal’ Brexit looking to be a strong possibility, investors are likely feeling anxious about how to position their portfolios. In light of this, we have used FE’s unique Market Intel (MI) tool to see which Investment Association (IA) funds and sectors advisers have been researching recently, as well as the period leading up to the referendum and the two years since (July 2015 to July 2018).
Cazenove Capital and Parmenion among latest DFMs to commit to model portfolio transparency through FE Transmission
Cazenove Capital, Openwork, Parmenion and Sarasin are the latest model portfolio providers to join FE Transmission, the service which enables advisers to access underlying portfolio data and conduct detailed analysis on the providers they work with.
Interest rate rise should not deter investors from UK Gilts
Bond markets had been patient in anticipation of the Bank of England’s Monetary Policy Committee decision today to raise the benchmark interest rate by 0.25 percentage points to 0.75 per cent. A decision that has seemed increasingly predictable given that the probability of an interest rate hike had moved to 90 per cent over the summer.
UK Gilts maintain sector dominance in latest FE Passive Crown rebalance
FE, the leading UK investment ratings and research agency, today announced that almost half (46%) of UK Gilts funds and a third of both North American Equities (31%) and Emerging Market Equities (30%) funds achieved the highly-prized five FE Passive Crown Rating at the latest rebalance, whilst no Index-linked Gilts or Sterling Corporate Bond funds achieved the top accolade for a second rebalance in a row.
China and Asia ex Japan top the sector charts in latest FE Crown Ratings rebalance
FE’s latest bi-annual Crown Fund Ratings rebalance has awarded 321 funds with the highly-prized 5 FE Crowns, of which 10 are newcomers and 31 have jumped two or more FE Crowns to achieve the top accolade.
Advisers turn away from the UK amid uncertainty
This year’s FE Adviser Survey (Adviser Business Models – what lies beneath) looked at how advisers are managing their investment processes, to discover areas for improvement and to highlight best practice. Here, we look at one part of that process specifically – investment choices and which sectors advisers have increased their exposure to.
Coming soon on FE Analytics: Ex Ante Cost Calculator
FE Analytics already provides a new Reduction in Yield calculator to show the reduction in yield (RIY) in a PRIIPS-compliant way and you can access the four different product costs that need to be disclosed in a MiFID II ex ante client report via FE Analytics. Our team is now busy developing an additional calculator that will enable you to get a clear and transparent view of all MiFID charges that impact a clients’ investments.
IBIPs and the Insurance Distribution Directive (IDD)
The IDD requires greater product governance by manufacturers and distributors, including identification of the target market, and disclosure to customers of product features and costs and charges. For those familiar with MiFID II, this will ring bells. Indeed, in terms of disclosure and product governance, the IDD is effectively MiFID II for life products.
An update on European TLAs and UK FLAs for regulatory reporting
Back in what now feels almost like pre-history, the European Working Group (EWG) came together to provide a standardised reporting template to deliver the data from asset managers to insurance companies for their Solvency II reporting and the Tri-Partite Template (TPT) was born.
Asset Management Market Study (AMMS) Policy Statement and further Consultation Paper and an Occasional Paper on fund charges disclosure
The FCA has had a busy time so far in April, with the publication of, among other things, Policy Statement PS18/8 on final AMMS remedies, Consultation Paper CP18/9 on further proposed AMMS remedies and Occasional Paper 32 on the disclosure of fund charges.
The growing trend of combining multi-asset funds in a single client portfolio
Multi-asset funds offer robust solutions in accumulation, decumulation and income-seeking strategies by providing advisers with a one-stop shop for cost-effective asset allocation, risk management and rebalancing. Based on these merits, they have become popular amongst advisers for use in client portfolios over recent years. Increasingly Advisers are also blending two or more multi-asset funds within one portfolio- a trend that was evident in the results of the FE Adviser Survey 2018.
The clamour for changes to PRIIPs KIDs is too loud to ignore
Nobody denies the value of a short document with key information for investors before they commit to a fund or product. But criticism of the calculations used in PRIIPs KIDs has been pretty constant since even before they hit the streets in January and has hopefully reached a level that can’t be ignored by the European Commission or the European Supervisory Authorities (ESAs).