UK - A new disclosure code on trading costs for fund managers is to be developed jointly by the National Association of Pension Funds (NAPF) and the Fund Managers' Association (FMA).
The code will build on ten sample questions - devised by Paul Myners, who led the Government’s review of institutional investment - for pension scheme trustees to ask their fund managers with regard to commissions and other costs.
Alan Rubenstein, chairman of the NAPF’s investment council, said: “At a time when many in the pensions industry still have concerns about parts of the Myners report, this innovative project will provide a practical framework to help trustees and their fund managers review their trading costs.”
FMA chairman Lindsay Tomlinson said: “The FMA believes that there is a need to improve transparency in trading costs.
“We hope that this initiative will achieve an industry-wide standard whilst not prescribing an onerous disclosure regime.”
By Janet Du Chenne
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.