On the go: The Cost Transparency Initiative has released additional resources and a new set of tools aimed at encouraging more schemes and asset managers to sign up to the standard, following a strong show of support by the industry for the framework it published last year.
Announcing its expansion, the CTI pointed to a recent survey by one of its co-creators, the Pensions and Lifetime Savings Association, which found that 74 per cent of schemes and consultants consider they have a good level of awareness of the CTI, and a majority has already requested costs information using its templates.
Designed to allow investment managers and asset owners to collect and compare costs and charges in a standardised and transparent form, the initiative provides clarity for asset managers about what data to supply, and allows pension schemes and asset owners to compare costs between managers and drive better value for their savers and investors.
CTI standards have already been incorporated to some degree by all Local Government Pension Scheme funds, as well as significant private schemes such as DHL Pensions Investment Fund Limited, Kingfisher Pension Scheme, National Grid UK Pension Scheme, Nest and the Universities Superannuation Scheme.
The new tools, which include a fiduciary management template, additional reporting fields on the liability-driven investments, mapping guidance for private equity investments and additional case study and webinar resources, are designed in part to encourage those schemes and fiduciary managers who have yet to sign up to the standards.
Mel Duffield, CTI’s chair, said she is “really pleased with the progress of this important initiative to help investment managers and schemes report and understand their costs and deliver better value to savers”.
“We are now entering a final push to encourage remaining schemes to adopt the templates and guidance, and will continue to promote the benefits both savers and pension fund trustees can gain from their use,” she noted.
“Over the rest of this year, the CTI board’s technical expert panel will continue to take forward and develop any additional resources and guidance, according to the needs of the industry.”
