Rights issue fee inquiry opens

AN INDUSTRY probe into the fees charged by investment bankers for rights issues will be officially launched today.

The rights issue fees inquiry, established by the Institutional Investor Council, will look at the demand for investment banking services by the listed companies in which they invest.

The inquiry is being led by Douglas Ferrans, chairman of the Investment Management Association and former head of asset managers Insight Investment.

He said: "The views of companies in which our members invest will be of particular value … However, the view of others, including investment banks and other corporate advisers, are also welcomed."