MEP demands pension providers pay back fees

Sharon Bowles, chair of the European Parliament's economic and monetary affairs committee, says asset management costs are "eating up" more of a fund's growth than an investor eventually gets. "I was asked in an interview recently what keeps me awake at night," says Bowles. "The first answer I gave was: 'fund management margins such as in multiple layers of undisclosed fees and its impact on pension returns'. "Measured as a loss to the investor, the collective management fees represent a larger fall in value than the worst ever crash on the stock market." Bowles has supplied dat...