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Fund bodies developing new trading costs code

A new disclosure code on trading costs for fund managers is being developed jointly by the National Association of Pension Funds and the Fund Managers’ Association.

The code will build on the ten sample questions devised by Paul Myners concerning commissions and other costs that pension scheme trustees are required to ask their fund managers.

NAPF’s Investment Council chairman Alan Rubenstein says: "At a time when many in the pensions industry still have concerns about parts of the Myners report, this innovative project will provide a practical framework to help trustees and their fund managers review their trading costs.”

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