Editor's view: FCA challenges active managers to prove their worth

Speaking at the press conference today at the launch of the FCA's Asset Management Market Study, CEO Andrew Bailey said the regulator was "not advocating active or passive" investing, but had highlighted areas where investors may be lacking information - for example the dearth of trackers on buylists. However, what is very clear from the first reading of the regulator's long-awaited report is it offers a damning critique of the actively-managed funds sector. FCA propose 'all-in' fund fees and further work on retail distribution In the initial summary of its findings, the FCA said ...