John Husselbee: View from the front row

It was Oscar Wilde who described one of his characters as knowing the price of everything and the value of nothing - and the current obsession with fund management costs is beginning to take on a similar feel. Following the publication by the Financial Conduct Authority (FCA) of its interim Asset Management Market Study last year - the final version of which is expected tomorrow - price has become an even more significant issue in the investment industry, with active managers facing greater pressure than ever to justify their higher fees. Multi-manager products have long endured criti...