The Investment Savings and Insurance Association (ISI) said a new standard will create consistency in how on-going fees and recovered expenses are reported to retail investors from April 1 next year.The development of the new industry standard began at th
The Investment Savings and Insurance Association (ISI) said a new standard will create consistency in how on-going fees and recovered expenses are reported to retail investors from April 1 next year.
The development of the new industry standard began at the end of 2009 and involved significant input from many different stakeholder groups.
The new format will enable investors to make better comparisons between investment products by providing consistency in terms of both layout and definitions.
It will also introduce the total expense ratio (TER) model that is followed in Europe and North America.
It will require ISI members to calculate and present their fees and expenses in a standardised manner. This will enable investors to assess the impact of fees and expenses on their returns and compare between providers.
