Since the last financial crisis the asset management industry has been trying to rebuild its public image. While they might not expect to be loved, asset managers have learned they should at least try to earn people’s trust by demonstrating that they are acting positively in investors’ interests.

Yet although fee transparency has improved immensely in the last few years, the multiplicity of disclosures, the confusion in measures and, lately, the lack of consistency in the newly quoted transaction fees have not exactly charmed fund selectors. In some respects this might have even created further anxiety.