Six asset managers have been praised for their "exceptional transparency" in reporting transaction costs and charges to clients including pension schemes.
A total of 10 fund managers have now been accepted by ClearGlass as taking significant steps to improve their openness.
The cost analysis service, spearheaded by Dr Chris Sier, has added Adam Street Partners, New Forests, Partners Group, PIMCO, Sands Capital Management and T. Rowe Price International to its list of exceptional managers.
ClearGlass launched in November last year to collect and analyse costs data from asset managers in accordance with the standardised templates developed last year by the Financial Conduct Authority's (FCA) Institutional Disclosure Working Group (IDWG), which Sier also chaired.
The templates have since been adopted and adapted by the Cost Transparency Initiative (CTI), and were formally launched last month with an expectation that all asset managers working with pension schemes would use them for December 2019 and April 2020 year-ends.
The six additions to ClearGlass' "exceptional" list were praised for their translation of data on Institutional Limited Partners Association (ILPA) templates to the CTI templates, quick turnarounds for requests for data, single points of contact, and extreme level of granularity beyond minimum requirements.
Sier said: "The fact that these managers started their transition long before the templates were formally released shows outstanding vision, as well as a clear desire to do the right things for clients irrespective of the prevailing regulatory environment."
He added: "All of the managers on this list have significantly reduced the lead-time to get data as a result of their firm-wide stances on transparency. What is becoming apparent is that culture within a manager has a significant role to play when it comes to being transparency.
"Consequently, if transparency and client service are important selection criteria for the provision of asset management services, these managers are a very good starting point for any shortlist."
The six join Baillie Gifford, Legal & General Investment Management, Majedie Asset Management, and MFS.
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