Andrew Pitts, editor of Money Observer magazine, responds to the Telegraph feature on fund charges:
“Money Observer set out these issues earlier in the year. We are glad that a national newspaper is now highlighting the rough deal for investors and bringing the high-charging culture of the UK fund management industry to a wider audience.

New research from Money Observer has found that in the last 30 years, since its very first edition and the decade of Abba, disco music and the first ever Sony Walkman, Investment Trusts have consistently outperformed the more popular Unit Trusts. The new research shows that of the 51 investment trusts that have a track record of more than 30 years more than two thirds (35) beat the FTSE All-Share index's total return of 2,367 per cent since 1979. Of the 82 unit trust funds that have survived over three decades less than one third (23) managed to beat the index.

Moneywise Publishing, part of Capital Accumulation Limited (CAL), today announced that it has acquired Money Observer magazine from Guardian News and Media.