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‘Fair value’ rules cause confusion for trust investors

Isa and pension platforms are interpreting rules differently, stopping investors from buying certain portfolios
June 12, 2024
  • Fidelity, AJ Bell, Interactive Investor and Charles Stanley among the platforms restricting certain investments
  • Regulations put platforms in a tricky position

Major investment platforms are restricting investments in funds or investment trusts based on whether they provide “fair value” to investors, but most are not disclosing a list of the funds they restrict or the full criteria they use.

Since the introduction of the Financial Conduct Authority’s (FCA) consumer duty rules, firms are expected to show that their products provide fair value to customers. For investment platforms, this means having a degree of responsibility to check that the funds they offer also do so. 

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