Fund managers hit out at EU pay curbs

Proposals set to be confirmed later this week call for fund managers' bonuses to be restricted to a 1:1 ratio with their annual salary. Some 60% of the variable pay element would be deferred under the plans, and largely paid in units of funds run by the manager, according to the new plans for UCITS vehicles. But fund managers have hit out at the plans as "counter-productive" and "foolhardy", according to the Financial Times, with some concerned over a likely rise in fixed costs as a result. “Where will this stop? Will it go beyond Ucits funds? Will it go beyond the financial sector...