Funds to make charges clear

Tim Wallace
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INVESTMENT funds must publish their fees for customers in a clear and standardised way to avoid misleading clients, the Financial Conduct Authority ruled yesterday.

Firms will have to publish the ongoing charges figure (OCF) rather than the annual management charge (AMC), in a bid to give customers clear information on fees.

Funds will also have to publish more detailed information on how the charges are levied and what customers should expect to pay.