Criteria Investment Funds

PANA criteria for investment funds to display the FairLife Mark

PANA stands for Peer Agreed and Nationally Approved meaning that the criteria have been agreed by a peer group of providers and approved by the FairLife Charity.  The resulting standards combine fairness to the public with business practicality.  PANA criteria evidence that FairLife-marked products and services meet the FairLife Pledge.

  1. The fund must be eligible for investment by the [general public].
  2. Communications and charging structures must be clear, fair and not misleading; with material benefits other than costs and charges being declared to the customer.
  3. The product must not discriminate in a negative way against new or existing customers.  If a separate bonus is to be offered to new or loyal customers, this must be in addition to the product.
  4. Where applicable non-FCA-regulated products must be treated in the same way as FCA regulated ones.
  5. The product must not charge termination fees if exited normally, unless required to treat other customers fairly.
  6. If the product comprises only cash and cash equivalents, the provider must also follow the cash savings criteria with the exception of the requirement for FSCS protection.
  7. If the provider sells the fund, any benefits the customer has through the FairLife Mark must be included in the sale transfer.

If peer agreement can be secured in the future, the charity will seek introduce standardised terminology.  This will build public trust and help FairLife Schools, colleges and universities to teach financial education.

To download a summary of the mark click here

The FairLife Mark is a mark of integrity that can be awarded based on the provider’s own declarations.  The licensee may use the mark on any qualifying products and cancel at any time.

The FairLife Mark is on your side