The announcement by the Financial Services Authority (FSA) outlining the new rules which will allow unit trusts and OEICs to be both single and dual-priced concludes a period of uncertainty for UK investment managers.

The rules, to come into force from Friday (6 October), will allow unit trusts to continue to use either pricing method and will introduce dual pricing for OEICs.

Richard Saunders, Chief Executive of the IMA, commented:

“The omission of dual pricing provisions from the original COLL rules was a cause of concern to the industry. This move by the FSA is, therefore, welcome as it removes uncertainty for managers currently operating on transitional provisions. The regulator has responded swiftly to industry concern, a good example of an inclusive and consultative approach to regulation.”

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For further information, please contact:
Helen Stephenson, Communications Officer, IMA 020 7831 0898

Out of hours contact:
Mona Patel, Head of Communications, IMA, 07834 089 332