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
- Most of the key features documents are attractively presented,
clear and precise.
- Firms are setting out details of charges and expenses
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