Pension funds believe investment management fees are too high and need to come down, a study by financial consultants bfinance suggests.
It says the worst-performing equity class for investor satisfaction is global tactical asset allocation (GTAA), where 86pc of investors feel they get poor value for money. This was followed by fund of hedge funds (FoHF) where 60pc of respondents think they do not get value for money. It adds pension funds feel hedge fund and fund of hedge fund fee levels need to be reduced. However, the majority of pension funds believed they got value for money from passive equity managers - with 96pc of respondents declaring it good or fair. Olivier Cassin, bfinance managing director of research and...
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