With performance fees the “Devil is in the detail”
Although the financial services sector is backed by a sound regulatory and legal framework, not enough is being done to ensure full transparency in terms of investment management fees. It is almost impossible for decision makers and members to make informed investment decisions as it is very difficult to compare the different types of investment fees and the levels of fees that are being charged. In addition, although some service providers claim that their fees are fully disclosed, they only disclose the level of the fees and not the details of the calculation methodology. With performance fees, the “devil is in the detail” and it is vitally important that members have access to this kind of information to consider appropriate investment vehicles.