Fair Value Assessment (FVA)

A check on whether an investor receives a reasonable benefit from an investment product or service for the price they pay. The rules on fair value assessments come from the Financial Conduct Authority (FCA) as part of their work on consumer protection.

Fund managers authorised in the UK must regularly carry out a value assessment of the funds and investment trusts they manage. Fund costs are an important factor in value, but so are the benefits of using a product, such as performance and quality of service provided. An assessment will also look at any limitations of a product.

If an overseas fund manager does not provide a fair value assessment, we'll arrange for our own assessment or an equivalent to be made.

We’ll let you know if a fund you hold fails a fair value assessment. Although you can choose to keep it, we won’t be able to accept instructions to buy the fund online or continue any regular investment instructions into it. You’ll still be able to buy the investment over the phone.