You are here: Home - Investing - Experienced Investor - News -

Performance data from top fund houses is ‘six weeks out of date’

Written by:
Fund factsheets from eight of the ten best-selling fund groups contain performance data that is six weeks out of date, according to new research.

Despite the extreme market turmoil of recent weeks, of the ten factsheets reviewed on the providers’ websites on 10 September 2015, eight included performance data to 31 July 2015.

Only the Standard Life Investments UK Equity Growth fund factsheet included data to 31 August 2015, while the Fidelity website included online performance data for the UK Smaller Companies fund updated to 9 September 2015 rather than a static factsheet.

The research was carried out by Instinct Studios, a fintech company “creating smarter customer experiences to simplify the world of financial services”.

In a separate study, the firm found that only 22% of retail investors read the fund information they receive in detail and just under a quarter (24%) fully understand the fund information that’s presented to them.

The same research asked 100 advisers which words best describe the fund information they receive – 17% said ‘out of date’, 21% selected ‘complex’ and 14% picked ‘confusing’.

Jeremy Mugridge, marketing director at Instinct, said: “As we saw in August this year, a lot can change in investment markets over the course of a few weeks. We’re all used to accessing real-time digital information from other industries anytime, anywhere, so it is surprising that most investment providers continue to offer static, out of date fund data. It’s high time that financial services embraced the benefits of offering up to date, user friendly digital information before the Regulator and consumers lose patience and force their hand.

“Our research has found that many retail investors feel that the fund information supplied by providers can be unappealing and hard to understand – which is to be expected when even some professional advisers find it confusing. By offering engaging and easy to understand digital data, providers will not only offer a better customer experience but also stay on the right side of the Regulator by keeping in line with its smarter client communications ambitions.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

It’s time to get your finances in shape, and moving your cash savings to a higher paying deal is a good plac...

Everything you need to know about being furloughed

Few people had heard of ‘furlough’ before March 2020, but the coronavirus pandemic thrust the idea of bein...

The experts’ guide to sorting out your personal finances in 2021

From opting to ‘low spend’ months to imposing your own ‘cooling-off period’, industry experts reveal t...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week