News

Fund managers told how FMA wants performance fees disclosed

Wednesday 2nd of December 2015

Submissions closed last week on the FMA’s draft guidance on fees and returns from managed funds.

The FMA said it saw some inconsistency in how performance-based fees were disclosed in disclosure statements under the Securities Act, and how managers were calculating 0% PIR returns and fund charges.

It said it was particularly concerned about managers who used a performance-based fe...

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