LGPS Central partners with KAS Bank for cost transparency solution

The £20bn Local Government Pension Scheme (LGPS) asset vehicle has teamed up with the specialist securities service provider to generate a cost report for pooled assets and those employed by its nine partner funds.

The partnership will focus on the integrity and security of the cost data, and will use KAS Bank's cost transparency dashboard in a bid to tighten governance standards.

LGPS Central chief executive Mike Weston said: "We are committed to being as transparent as possible about investment costs with our clients. We're delighted to be working with KAS Bank and are looking forward to shining even more light on costs - one of the key benefits of the pooling process."

KAS Bank UK managing director Pat Sharman added: "We are delighted to be partnering with LGPS Central on cost transparency data collection and reporting, particularly as we continue to see demand across the industry.

"We support their focus on transparency and are best placed to support LGPS Central given our experience in both Dutch and UK markets."

KAS Bank's service launched in 2017 and now works with a number of major UK pension schemes to provide improved collection and analysis of transaction cost data.

LGPS Central manages the assets of nine Midlands-based local authority funds, which have £45bn of assets between them: Cheshire, Derbyshire, Leicestershire, Nottinghamshire, Shropshire, Staffordshire, Worcestershire, West Midlands Pension Fund and the West Midlands Integrated Transport Authority.

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• Topics
• Investment
• LGPS Central
• LGPS
• Local Government Pension Scheme
• cost transparency
• Fee transparency
• transparency
• Mike Weston
• Kas Bank
• Pat Sharman