According to the Financial Times, eight investment consultants, including the “big three” of Aon Hewitt, Mercer, and Willis Towers Watson, are taking part in the talks, dubbed Project Spotlight. One intention is to develop standards for the disclosure of performance and costs charged to pension schemes.
The meetings come as the UK’s Competition and Markets Authority (CMA) looks into the role of investment consultants, which advise trustees on choosing fund managers and asset classes.
The CMA has warned that pension fund trustees did not have sufficient information to be able to judge if they are getting a good deal.
The talks are being hosted by IC Select, the governance specialist. IC Select stated smaller investment consultants including Cardano, KPMG, Momentum, Redington, and River and Mercantile had agreed to take part.
Full Content: Financial Times
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