I'm currently in Monte Carlo (tough, I know) at the Fund Forum International conference.
Basically, it's a get-together of most of the european banks and fund managers, at CEO level, to discuss the design and distribution of investment products going forward. I am talking part in two expert panel sesssions, covering the retail distribution review (a.k.a. RDR) in the UK and, tomorrow, the prospects for the UK going forward.
So, what have I learnt so far? Basically, that many fund managers are still of the opinion that they can continue to charge high fees for mediocre (at best) performance. I am spending most of my time here talking to the others, as they are the future.
Sadly, there also seems to be little going on to help consumers to understand financial products better. There's plenty of talk about it, but little action so far, as there seems to be an argument over who should do it!
More feedback tomorrow!
