Assessment of Value reports
What is happening?
The FCA is understood to be holding discussions with fund firms to ascertain whether they are complying with the recently introduced Assessment of Value (AoV) rules. It has been reported that the FCA had begun a review of the assessments to ensure that fund management groups are taking action to identify any funds that offer poor value for money and that it is seeking to improve authorised fund manager standards following the Woodford scandal by obtaining information about a range of practices in the industry and providing feedback later this year.
What do you need to do?
The FCA introduced AoVs following its 2018 Asset Management Market Study and the process is about to enter its second year. While there is no official template for fund groups to present their AoVs, the FCA has provided, in COLL, a table of minimum considerations for the assessment, including service quality, performance and manager costs.
How can we help you?
If you’d like to know more about how we can help you with your FCA Assessment of Value reports or other processes and procedures, or with any other aspect of FCA compliance, our expert team is here to help. Contact us today on 0207 436 0630 or email info@thistleinitiatives.co.uk.