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Article: Myners rounds on 'cosy' fund managers
- Article from:
- The Sunday Herald
- Article date:
- March 17, 2002
- Author:
CopyrightCopyright 2002 The Sunday Herald. Provided by ProQuest LLC. (Hide copyright information)
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FUND managers and stockbroking firms are leaving themselves open
to a competition commission inquiry unless they take steps to reform
their "cosy relationships" and the way they charge their clients, a
leading industry figure warned at a pensions conference in Edinburgh.
Paul Myners, ex-chairman of investment managers Gartmore, who was
behind a Treasury-sponsored report into the pensions industry,
delivered his wake-up call last Friday.
Speaking at a National Association of Pension Funds conference at
Edinburgh International Conference Centre, Myners accused fund
managers of dragging their feet more than any other interest group.
He said fund managers seemed to be turning a blind eye to ...