Does it pay to pay performance fees?
A new study finds no statistical evidence that returns of pension funds that pay performance fees for active investing are significantly higher or lower than the returns of pension funds that don't.
Does it pay to pay performance fees?
A new study finds no statistical evidence that returns of pension funds that pay performance fees for active investing are significantly higher or lower than the returns of pension funds that don't.
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Building a better fee model
Changes in standard funds-management fee structures are inevitable. Better alignment and fairness can be arranged if the stakeholders are willing to make it happen. Mercer presents some ideas.
Fees get another rethink
A new measure of the value a manager adds meets a proposed rate of compensation and protection for asset owners in the Thinking Ahead Institute’s plan for fairer performance fees.
Performance fees hardly worth it
An analysis of 218 Dutch pension funds has shown that paying performance fees has little impact on performance. Size of fund and specialisation were deemed more important for net returns.
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.
Long term investing and infrastructure
There has been some ambiguity about what being a long-term investor means. For Australia’s Future Fund it means focusing on a few key aspects of our investments: understanding value, the ability to make and implement portfolio decisions and manager alignment. In this speech at the ASFA Global Investment Forum on infrastructure and long-term investment, Raphael
Fees