Graham Bentley: Fund value assessments should incorporate the full service

Fund groups haven't rushed to publish VAs. Dilatory hiring of independent non-executive directors (iNEDs) was certainly a factor, but given the lack of prescription from the regulator, many feared the proverbial scalping that typically afflicts publication pioneers, who have no early adopter mistakes to learn from. That has proved to be the case, with reporting being generally critical if not heavily biased towards the negative.  That criticism may be justified. The prevalence of expensive share classes, closet tracking and underwhelming performance makes any desperation to affirm 'good'...