For immediate release: Thursday 1 October 1998
CAT MARKS – "BREATHTAKINGLY IRRESPONSIBLE"
The Association of Unit Trusts
and Investment Funds today described the Government’s policy
on CAT standards for Stocks and Shares ISAs as
"a breathtakingly
irresponsible act which cynically puts at risk the savings
of the most needy in society".
AUTIF’s Director of Communications, Anne McMeehan added,
"The Government knows that no risk warning or advertising
campaign can offset the implied Government endorsement which
people will read into a CAT-marked product."
For further comment please contact:
Philip Warland, Director General AUTIF 0171
831 0898
Anne McMeehan, Director of Communications AUTIF 0171 831 0898
Lewis McNaught, Chairman AUTIF 0171 782 2408
- Research shows
that 30% would take a Government CAT mark to be a form of
endorsement and would be disappointed if a CAT marked product
lost value.
- Research carried
out for the Consumers Association shows that most investors
do not read Key Features.
- The FTSE 100 has
dropped 18% in less than two months
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