A new FCA committee has set the timeline for its fee template for asset managers as it publishes details of how it will go about its analysis.
Money Marketing earlier this week the disclosure working group set up by the FCA following its final report into the asset management industry was about to set out the objectives for the template and how it will enforce its standards.
The disclosure template is meant to give clarity and transparency to the costs and charges asset managers provide to institutional investors.
In a note today the disclosure group, chaired by Chris Sier, said it is likely to finish the template works for “mainstream” asset managers by 24 December, while for private equity and hedge funds by 31 July.
The first priority of the group will be an analysis of the cost drivers behind a wide-range of the underlying asset classes of funds including lifestyle funds and investment trusts, the note says.
Sier says he will accept “informal feedback and proactive comments” from asset management firms at any stage of the work.
The work will build on Sier’s longstanding work with the Local Government Pension Scheme as well as the templates created by Investment Association and others.