KAS BANK partners with LGPS for cost transparency and reporting services
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KAS BANK partners with LGPS for cost transparency and reporting services 12 August 2019London Reporter: Jenna Lomax
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KAS BANK has partnered with asset manager, Local Government Pension Scheme Central Limited (LGPS), for cost transparency collection and reporting services.
KAS BANK will assist LGPS Central to collect cost information across its range of investment mandates for both pooled assets and those employed by the partner funds.
KAS BANK will generate a cost report using its cost transparency dashboard which will be accessible to the team at LGPS Central and Partner Funds.
The partnership will allow LGPS Central to further tighten its governance standards and facilitate thorough cost transparency on behalf of its partner fund investors.
LGPS Central Limited, one of eight pooling vehicles across England and Wales, is currently responsible for the management and stewardship of approximately £20 billion of assets for nine midlands-based Local Government Pension Scheme funds.
The nine funds have approximately £45 billion of investment assets collectively.
Mike Weston, chief executive at LGPS Central Limited, commented: “We are committed to being as transparent as possible about investment costs with our clients. We’re delighted to be working with KAS BANK and are looking forward to shining even more light on costs–one of the key benefits of the pooling process.”
Pat Sharman, managing director for the UK branch of KAS BANK, said: “We are delighted to be partnering with LGPS Central on cost transparency data collection and reporting.”
She added: “We launched our cost transparency solution to UK pension funds in 2017 and now partner with several major UK pension schemes in meeting their requirements, particularly as we continue to see demand across the industry. We support their focus on transparency and are best placed to support LGPS Central given our experience in both Dutch and UK markets.”
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