News

ACD Review, the FCA needs to go deeper and spend more time understanding the industry

Monday 1st March 2021
Ryan Johnson

Following the FCA engagement into the host ACD marketplace in December 2020, it can only be seen as a positive step that they are starting to try and understand the industry and how…

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Recommendation: Fund failures, ACD take over, Fund suspension or put on risk, what can the FCA do

Sunday 7th February 2021
Ryan Johnson

We believe in order to best serve the investor, industry credibility and integrity as a whole, when a fund is put at risk or suspended the ACD who manages the oversight of that fund should resign as the ACD and a new ACD be allocated for the fund which has been placed into a category of suspension or failure. This will immediately remove…

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A definitive guide to determining if MPS managers no longer need to pay VAT on an MPS service

Tuesday 12th January 2021
Ryan Johnson

Brooks MacDonald, Brewin Dolphin, 7IM and AJ Bell are just a few familiar names you may recognise as recently and successfully removing the VAT from the MPS service it provides. In this guide and referring to these companies we provide…

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FCA ACD change predictions for 2021

Tuesday 22nd December 2020
Ryan Johnson

With the FCA engaging with all host ACDs over the December period there will be a raft of changes and recommendations that will be concluded over 2021 which sole aim should be to protect and act in the best interest of the investor. We detail what we believe the FCA will change and bring into force to try and achieve this. We critically evaluate whether this change will actually work and achieve the objective... Full article available to clients, to subscribe and…

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How confident are investors that there money is safe with a fund manager?

Tuesday 1st December 2020
Ryan Johnson

After conducting a poll sample we explore what a group of investors think and feel about how safe their money is by fund managers in todays climate... Full article available to clients, to subscribe and receive access to all articles please email, requests@lloydexpert.co.uk

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ACD Fund Value Assessment - Challenges

Sunday 8th November 2020
Ryan Johnson

The majority of issues in relation to the value assessment is the conclusion of the assessment that results in the Authorised Corporate Director (ACD) insisting that the fees, Annual Management Charge (AMC), to which the fund manager receives, minus the ACD costs, is reduced to ensure it is providing value for money in line with the ACD expectations, according to the market data. The problem with this is the difference in quantifying and assessing value for the overall investor within any particular fund. It is not as simple as comparing 'apples v apples' as each ACD within a fund category will be applying the criteria in a different way with varying rationale. The ACD as legal…

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Is 2021 the year of consolidation for ACD and ManCo services?

Monday 26th October 2020
Ryan Johnson

Let us not underestimate the amount of work, responsibility and risk that the fund oversight function whether as an ACD or ManCo takes on versus the revenue it recieves from funds. The fund oversight function is essential and crucial to the industry but for which the profit margin is much smaller than the fund managers which they provide services for. As a result the pressure on fund oversight functions are ever greater and without the neccessary scale required it can become a challenging enviornment.…

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'Value for Money' considerations that must be added by the ACD to the FCA 7 categories

Thursday 6th August 2020
Ryan Johnson

The current FCA category guidelines for 'at least' seven areas as according to COLL 6.6.21R, 1. Quality of service 2. Performance 3. AFM costs - General 4. Economies of scale 5. Comparable market rates 6. Comparable services 7. Classes of units Following an initial round of assessments by a number of ACDs and managers has identified some shortcomings in capturing all the elements to provide a value for money assessment. There are a number of additional areas and categories that have been identified whilst carrying…

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FCA Review - What is the point of the depositary, if nothing changes?

Sunday 12th July 2020
Ryan Johnson

The time has come for the role of the depositary to be scrutinised and questions asked is the current model fit for purpose? The FCA recently at the Funds Congress earlier in the year made it clear that the role of the depositary is an area that needs to be reviewed and considered as part of the fund oversight review that is scheduled to be delivered by Q4 2020. It was always inevitable and will come to no surprise of those in the industry that the role of the depositary…

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FCA concerns with the current ACD model and indication of what measures it is looking to put in place

Friday 8th May 2020
Ryan Johnson

Full article available to clients, to subscribe and receive access to all articles please email, requests@lloydexpert.co.uk

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Crucial role the depositary plays or should play in the oversight and management of funds

Sunday 19th April 2020
Ryan Johnson

Full article available to clients, to subscribe and receive access to all articles please email, requests@lloydexpert.co.uk

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Guide to selecting the right manager to manage your mandate

Thursday 5th March 2020
Ryan Johnson

Full article available to clients, to subscribe and receive access to all articles please email, requests@lloydexpert.co.uk

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What does a good ACD do?

Wednesday 26th February 2020
Ryan Johnson

Full article available to clients, to subscribe and receive access to all articles please email, requests@lloydexpert.co.uk

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The top 5 investment platforms for investors and reasons why...

Tuesday 4th February 2020
Ryan Johnson

Full article available to clients, to subscribe and receive access to all articles please email, requests@lloydexpert.co.uk

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