Briefing: New benchmark to reduce cost of FX transactions
Among the areas of focus for a pension fund looking to cut costs are the fees charged by its asset managers, usually as an annual percentage of assets under management, plus costs for other services. As part of a cost-cutting exercise, however, foreign exchange (FX) is often neglected. But as funds increasingly invest outside their home country, FX transactions are acquiring more significance because of the need to hedge foreign currency fluctuations. And these deals can carry hidden costs.
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IPE covers a good variety of very current and relevant topics. It is good to read the high-level, independent and objective perspectives from pension funds in other European countries; many of them are dealing with the same issues as we are, so it is interesting to learn from their experiences, especially when they are ahead of where we are on the curve.
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