NEST and KAS Bank team up on transaction transparency tool
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NEST and KAS Bank team up on transaction transparency tool 08 May 2019London Reporter: Becky Butcher
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The National Employment Savings Trust (NEST) has teamed up with Kas Bank to assist with cost transparency reporting for its range of target date and specialist funds.
KAS Bank’s cost transparency solution could improve the visualisation of NEST’s transaction costs across its range of managers and funds.
The cost transparency solution that Kas Bank provides pension scheme trustees with an overview of their scheme’s associated charges.
Henk Michels, director of fund administration at NEST, commented: “Pensions schemes like Nest have been asked by the government to find ways to help outline transaction costs to our members, something we fully support. We’re therefore looking forward to working with KAS Bank, providing transaction data from our fund managers into their cost transparency tool and see what solutions it can offer the wider industry. We’re firm believers in strong governance and happy to support innovation which promotes transparency.”
Also commenting, Pat Sharman, managing director for the UK branch of KAS Bank, said: “We are delighted to be partnering with Nest, to assist them with cost transparency reporting and the visualisation of transaction costs.”
She added: We continue to build on our strong platform to meet the needs of pension clients and we’ll be launching our DC cost transparency solution in Q2 2019, helping DC schemes report on their investment costs and value for money.”
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