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Managers struggle to find index to report against

Wednesday 9th of August 2017
The Financial Markets Conduct Act requires fund managers to include the return of a market index in their quarterly fund updates sent to investors, under the heading “how has the fund performed”. This allows investors to compare how their funds have performed, against the wider market.
The market index must be a "broad-based securities market index" that is "appropriate in terms of asses...
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