Ascentric offers cash rebate 'solution'

The Ascentric managing director (pictured) says if fund managers can be persuaded to reduce their AMCs from 150bps to 100bps there will be no need to ban cash rebates - a solution he says some fund managers are supportive of. "We think we have a way of solving the cash rebate problem," he says. "What we have to do is think of how the FSA could get fund managers to reduce their AMCs." Thorman thinks the proposal to ban cash rebates - set out in the November consultation paper - stems from the FSA's concerns over high AMCs and the regulator's belief these will be reduced if rebates were...