Pension fund managers face fresh call to disclose all charges

MPs are calling for further pressure to be placed on pension fund managers to reveal the full extent of their charges on investors.

Conservative MPs David Mowat and Nigel Evans are among the signatories of a letter to accountancy watchdog the Financial Reporting Council (FRC) calling for full disclosure on charges, the Financial Times reports. Transaction costs are among the charges managers "omit", according to the letter. The paper reports MPs are particularly worried about four types of charges: profits taken by traders; transaction costs on underlying funds; profits made when funds lend stock; and interest retained by fund managers on cash balances. Such hidden costs may prompt some savers to opt out of wor...