Today EISA has launched an EIS Fee Transparency chart designed to show what fees are charged, and to whom, by different fund managers.
The launch of the fee chart is the first part of a new initiative between EISA and GrowthInvest to create a calculation tool so that investors and financial advisers can better understand fees charged when investing in EIS funds.
Led by Martin Fox, Chair of EISA’s Research, Education and Marketing Committee, this new initiative is an important step in simplifying access to this information. More than 25 EIS and SEIS funds have taken part in the initiative which enables investors to compare fees across various different funds. A fully interactive calculator is the second element of the initiative and this will be released later this year.
Christiana Stewart-Lockhart, Director General of EISA said: ‘It is important that fees are clearly communicated and easily understood. This new development is an important step in delivering greater transparency, helping investors and advisers make an informed choice. We are very grateful to Martin Fox and GrowthInvest who have worked with EISA to develop this important chart, as part of a larger project which will see an interactive fee calculator launched later this year.”
Steve Dobson, Investment Director at GrowthInvest added, “Given there is no standard fee format for EIS and SEIS Funds it is very important that the fees are laid out transparently for prospective investors and their advisers, to aid them in their decision making. We believe that this will also help attract new investors and advisers to the market, and that our technology will aid that process and ensure a centralised consistent approach. We are pleased to be working with EISA on such an initiative and look forward to the next stages and any feedback on the progress to date”.