Regulators at the Central Bank have ordered managers of Irish-domiciled mutual funds to review fees charged to investors, after uncovering evidence of possible overcharging. Regulators at the Central Bank have ordered managers of Irish-domiciled mutual funds to review fees charged to investors, after uncovering evidence of possible overcharging. That followed an inspection into undertakings for the collective investment of transferable securities (UCITS) performance fees. Where performance fees are based on the outperformance of an index, it was unclear as to which version of the index was being used in some cases, the Central Bank said. The Central Bank said it will also commence supervisory engagement with the individual UCITS that were the subject of the review.

Source: Irish Independent September 05, 2018 01:52 UTC