Pension funds eye fee cuts but hedgies balk-study
Monday, February 8, 2010 : PermalinkReuters – Pension funds expect to negotiate lower fees with fund managers this year after securing cuts in 2009 in the aftermath of the financial crisis, although they face a battle with reluctant hedge funds, new studies said.
A survey by consultancy bfinance showed 40 percent of European and Canadian pension plans expect lower base fees and 25 percent expect lower performance fees this year from managers across most asset classes, as the funds industry competes to win back the investors who pulled out in recent years. Management fees have fallen over the past year for 28 percent of pension funds, while 19 percent said performance fees are lower.
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