Schemes are looking to increase their control of asset allocation in hedge funds and move away from fund of funds structures, according to a fund manager.
The Financial Conduct Authority (FCA) is investigating asset managers and investment consultants over concerns about value for money and conflicts of interest.
Pension schemes must review their contracts with investment managers to identify issues that could put trustees' fiduciary duties at risk, according to Squire Patton Boggs.
Investment management fees paid by local government pension scheme (LGPS) funds last year ranged from two basis points (bps) all the way up to 86 bps, official figures show.
Trustees are learning to get bolshy over contracts
James d'Ath explains why increasing demands from investors for transparency means change is inevitable.
Mark Hodgkinson looks at the varying costs incurred by £1bn plus schemes
Con Keating says experience suggests trustees know less than they think
The majority of the pensions industry believe it is difficult for schemes to find out what they are actually paying in asset management fees, according to research from PP.