Cost Disclosure Reforms

Over the last 3 years, Ben Conway, Hawksmoor’s Chief Investment Officer and Head of Fund Management, has been at the forefront of a campaign that has argued that the cost disclosure rules for Investment Trusts, which are listed investment companies, were unfair and misleading, optically inflating the costs of ownership of these investment vehicles. On Thursday 19 September 2024, both the Government and the Financial Conduct Authority made announcements that were in explicit recognition, that investment trusts do not have “ongoing costs” in the same way that open ended funds do, a clear vindication of the representations that have been made by the campaign group. A summary is available to download which provides details relating to the substance of the campaign and goes some way to explaining the material benefits that will be felt as a result of this development, the most profound of which will be a meaningful and positive shift downward in ongoing charges for portfolios that use listed closed ended investment companies. On Tuesday 15 October 2024, Ben will host a Hawksmoor webinar at which he will explain the journey that the campaign has been on and how the landmark announcements pave the way for new regulations.