IA appoints independent advisory board to develop fund cost framework

Chaired by NEST CIO Fawcett

The Investment Association has appointed an independent panel to provide advice on developing a standardised code for asset managers to disclose investment costs.

The Disclosure Code Advisory Board will be chaired by the CIO of the National Employment Savings Trust (NEST) Mark Fawcett and includes other senior pensions figures and representatives from the Financial Services Consumer Panel, Transparency Task Force, and the Local Government Association. The disclosure code complements existing efforts around costs carried out by pension schemes, wealth managers, platforms and advisers. It aims to make all costs clearer to consumers and provide a scheme for disclosure that will enable asset managers to be fully compliant with both UK and EU regula...