Disclosure code of practice on charges

Pension fund charges will become more transparent to trustees with the adoption of a code of practice developed by the IMA and the NAPF. The cost disclosure code is intended to provide a clear, comprehensive and standardised reporting format that will allow trustees to monitor and compare all costs incurred during the management of fund's assets. In adherence to Myners' suggestions in his report published last year, the code will see managers disclose not just transaction costs but all costs incurred directly, or indirectly, by pension fund portfolios during the fund management process....