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UK fund managers have better value assessments, but still need to improve, FCA finds

( August 10, 2023, 09:23 GMT | Official Statement) -- MLex Summary: Fund managers in the UK have improved their practices regarding value assessments, but there are still outliers where action must be taken, the Financial Conduct Authority said today. In a review of the sector, the FCA found that many fund managers have fully integrated assessment of value into their product development and governance processes. Improvements needed include more rigor when fund managers assess their funds’ performance, the authority said. A study conducted by the FCA in 2017 had found uncompetitive outcomes for investors.Statement follows. Findings attached....

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