SCM Direct
European closet tracker investigation ‘flawed’
The European Securities and Markets Authority’s (Esma) investigation into funds marketing themselves as active but in reality are passive, or ‘closet trackers’, underestimates the extent of the problem, according to UK investment boutique SCM Direct.
LGIM’s early unbundling of research costs applauded
Legal & General Investment Management’s (LGIM) decision to change the way clients are charged for research ahead of the Mifid II deadline has been applauded by the co-founder of investment firm SCM Direct.