Alignment of interest
The mechanism for sharing risks via fees in the pension industry is weak, says Fiona Trafford-Walker. Asset-based fees don't reflect managers’ ability, and clients don't get enough of the benefit of scale.
The mechanism for sharing risks via fees in the pension industry is weak, says Fiona Trafford-Walker. Asset-based fees don't reflect managers’ ability, and clients don't get enough of the benefit of scale.
Fees