IMA takes soundings on code of practice for fund charges

The Investment Management Association (IMA) is putting out a consultation paper to members on a code of practice for disclosing charges to pension fund clients. Its proposals are for a two tier level of disclosure to pension fund trustees, with the first level including an annual report on factors including the investment house's policy on issues which can affect costs such as selection of share brokers as well as commissions and spreads. The IMA is also proposing the introduction of half-yearly reports to clients which would show information such as fund management fees, transaction v...