FundQuest, the multi-manager owned by BNP Paribas, has confirmed to Global Pensions it is considering unbundling its fee structure, following on from the recent acquisition of UK based IMS.
FundQuest acquired IMS in April 2008 creating a multi-manager with approximately Ä47bn (US$74bn) assets under management.
Michel Anastassiades, CEO of FundQuest, told Global Pensions: "We find the IMS fee unbundling initiative very interesting and are currently considering whether to implement it at FundQuest."
No time frame was given for the process but the move was welcomed by investment consultants.
A spokesperson for Watson Wyatt said there was increasing scrutiny of asset management fees in the market and firms displaying greater transparency stood to gain. "Transparency inevitably leads to better value for pension funds," he said. "We believe the issue of fees and transparency will continue to go up the agenda more and more."
When IMS announced its unbundling programme, Antony John, managing director of IMS, said the approach of bundling fees had "added to the myth" of multi-managers and their relationships with asset managers.
He said: "Bundled fees can actually be restrictive. This is because some managers are worth paying higher fees for. This is the way that IMS works and prefers to work."
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