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Larger schemes with investment sub-committees more likely to be engaged
The time and costs involved in the process of tendering and/or switching a fiduciary manager can be 'considerable' and may make it more difficult for schemes to assess value for money and switch provider.
Meanwhile, defined contribution (DC) trustees, especially those of smaller schemes, are less likely to be engaged, while schemes with investment sub-committees may also be more engaged in reviewing their...
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