PIA 1997 Disclosure Reports: Unit trusts, investment trust savings schemes and personal equity plans

United Kingdom
In January 1998, the PIA issued its first review of the new disclosure regime which applies to packaged investment products. Having asked around 200 product providers to supply copies of all of their key features documents, the PIA's main assessment of the way in which firms are coping with the new disclosure requirements is that:


  • Most of the key features documents are attractively presented, clear and precise.


  • Firms are setting out details of charges and expenses clearly.

However, PIA points out that it is too soon to judge the new rules a complete success, and that a number of firms have some work to do.

This document also provides an excellent summary (which should be required reading for all firms producing packaged products) of the charges and projected returns which the various product providers offer.

The PIA plans next year to issue this document in conjunction with its life assurance disclosure review (see immediately below).