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LA Forum publications provide a comprehensive overview of the end to end research and investment process across a range of asset classes.  Our aim is to help our members understand complex problems and plan efficiently.

Written and published for Local Authority officers, these thought provoking documents highlight investment issues, available options and trends in key areas of the UK's public sector pension scheme space.

Targeting investment officers, policy makers, industry specialists, and the pensions board in order to promote debate and understanding.  It is not intended for use directly in either market forecasting or for investment decision purposes, where specialist advice should be sought.

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Interested parties should contact Mark Turnbull (Director: LA Forum) T: 01260 226610 E:

Clerus - A Practical Guide to Pension Fund Investment Costs

To help trustees and governance professionals.

The landscape for cost and charge discovery is rapidly changing for the better due to factors such as improving investor awareness, calls for increased cost transparency by industry bodies, regulatory and market initiatives and pressure to reduce pension fund deficits. The recent Asset Management Market Study – Interim report by the Financial Conduct Authority (FCA) and the potential impact it could have on institutional investors and their future governance arrangements is a good case in point.

The purpose of this guide is to assist the governance process in measuring and managing transaction costs, pooled fund costs and segregated mandate costs. The guide has been written in collaboration with Sunil Chadda, an experienced investment costs specialist and we believe it is the most comprehensive and detailed guide to investment costs and Value for Money available in the UK today.

Report Content:

  • Typical sources of investment costs for pension funds and other asset owners
  • How to evaluate Value for Money
  • Use the CLERUS self-assessment Check List to gauge the potential for hidden, or excess, investment costs in your fund
  • Get key insights and practical examples of where to find costs and charges

Henrik Pedersen, Managing Partner & Co-Founder of CLERUS said:

“The onus is now on pension fund trustees and governance professionals to demand transparency on all costs and charges related to the management of retirement funds and to assess if they provide ‘Value for Money’. We hope this Guide will be a useful tool to assist them in this pursuit.”

Date added: 22-12-2016


Clerus - A Practical Guide to Pension Fund Investment Costs