×
36 785
Fashion Jobs
OLD NAVY
General Manager - Pico Rivera
Permanent · Pico Rivera
OLD NAVY
Creative Director - Loyalty & CRM
Permanent · San Francisco
OLD NAVY
Assistant General Manager, Customer Operations - Easton Market
Permanent · Columbus
L’ORÉAL GROUP
Manager/sr Manager, Campus Recruiting
Permanent · New York
L’ORÉAL GROUP
Senior Manager / Manager of Brand Marketing
Permanent · Jersey City
KOHLS
Product Manager - Payment System
Permanent · Menomonee Falls
KOHLS
Full-Time Loss Prevention Officer
Permanent · Framingham
KOHLS
Full-Time Loss Prevention Officer
Permanent · Massapequa
L.L.BEAN INC.
rd Shift Bike Boat And Ski Sales Representative
Permanent · Freeport
L.L.BEAN INC.
Sales Representative
Permanent · King of Prussia
L.L.BEAN INC.
Hunting And Fishing Sales Representative
Permanent · Freeport
L.L.BEAN INC.
Sales Representative
Permanent · Hadley
L.L.BEAN INC.
Sales Representative
Permanent · Fayetteville
ALICE AND OLIVIA
Sales Supervisor - Austin
Permanent · Austin
ALICE AND OLIVIA
E-Commerce Customer Service Manager
Permanent · New York
JCPENNEY
Business Support Specialist - Communications
Permanent · Plano
JCPENNEY
Buyer - Home (Entertaining & Tabletop)
Permanent · Plano
JCPENNEY
Multi District Human Resources Business Partner
Permanent · Jefferson City
JCPENNEY
Product Manager - Customer Account & Loyalty
Permanent · Plano
TIFFANY & CO
Inventory Control Analyst
Permanent · Parsippany-Troy Hills
ULTA BEAUTY
Salon Manager-Hickory Point Mall
Permanent · Forsyth
ULTA BEAUTY
Salon Manager-White Marlin Mall
Permanent · Ocean City

EU watchdog says fees swallow quarter of retail fund returns

By
Reuters API
Published
today Jan 10, 2019
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Charges swallow a quarter of gross returns from the 10 trillion euros (£9.03 trillion) invested in retail funds in the European Union, the bloc's markets watchdog said on Thursday in its first annual report on the sector's costs and performance.




Regulators want greater transparency on fees and charges to encourage customers to shop around.
"Our report shows that fund costs are substantive, can severely impact returns, and vary strongly," said Steven Maijoor, chair of the European Securities and Markets Authority (ESMA).

"Costs, their level and structure are relevant for investor protection, and we will monitor and assess what the evidence implies."

About 80 percent of the costs are from ongoing management fees, creating a "significant drain" on fund performance, while exit and entry fees have a much lower impact, ESMA said.

The bloc is trying to create a capital markets union so that savings are channelled into stocks and bonds to raise funding for companies to grow, reducing the continent's heavy reliance on bank loans.

Investors have been switching to so-called "passive" funds that track stock indexes rather than "active" funds that follow shares picked by asset managers and charge investors much higher fees.

Passive funds account for about 10 percent of equity funds in the EU or 240 billion euros.

In terms of gross returns, actively managed equity funds have performed slightly better than their passive counterparts. ESMA said.

However, due to much higher charges on active funds, the net annual returns are similar for both types of funds over a 1-3 year horizon, and better for passive funds over longer periods, the watchdog added.

 

© Thomson Reuters 2019 All rights reserved.