In her regular column addressing the latest regulatory issues affecting multi-asset investors, Rebecca Murphy, director at North Investment Partners, discusses how the definition of value has shifted over time.
If you happen to take a quick visit to the VirginMoney.com website you will learn the company refers to having “pioneered” index-tracking in the UK in 1995. At the same time, it also claims to have been responsible for launching the “best value Pep in the market”. While not wanting to start a squabble, these assertions are questionable on two counts: first, the somewhat liberal use of the word ‘pioneered’ and second, the clear aim to ally index-tracking with best value. The FSA has been revising its rules of late, with the worthy intention of ensuring the public always be the recipien...
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