Mutual funds have previously been criticized for poor returns and unclear fees, but new EU regulations and an initiative from the business itself is going to create more transparency. They hope that this will impel Danes to put more money in mutual funds, Danish news service Finans reports.
Last Monday, the mutual fund sector published an industry standard against hidden expenses in sub-funds, simultaneously with the impending Mifid II regulations that are going to increase transparency.
Anders Klinkby, CEO at the Danish Investment fund Association (IFB), hopes that this will help change the Danes' view of mutual funds.
"Danes have around DKK 855 billion (EUR 115 billion) deposited in bank accounts, and both the mutual funds, consumers, and Danish society would benefit from that money being capitalized on," Klinkby says to Finans.
English Edit: Marie Honoré