Fund Managers Attempt to Thwart EU Ban on Past Performance Data

Asset managers urge European Union Commission to ditch proposed changes to retail fund rules

Emma Simon 20 June, 2016 | 1:05PM

Senior executives at eight leading fund managers – including Fidelity International, BlackRock, Schroders and JP Morgan Asset Management – have written to the European Commissioner urging him to overturn a potential ban on using past performance data.

New consumer legislation, due to come into effect in 2017, is expected to prevent fund managers using this information in key customer documents. Instead fund managers will have to give guidance on how these funds might perform in future: in unfavourable, moderate and favourable economic conditions.

Fund managers argue this change risks misleading investors, and will make it harder for consumers to select potential savings products.

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About Author

Emma Simon

Emma Simon  is a financial journalist, specialising in investment and consumer issues, writing for Morningstar.co.uk

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