Welcome to your weekly update from the Allen & Overy Pensions team, bringing you up to speed on all the latest legal and regulatory developments in the world of occupational pensions.
New standard language for responsible investment | Cost disclosure templates: new top tips
New standard language for responsible investment
The Investment Association (IA) has published new industry-endorsed definitions aimed at simplifying the language used to describe responsible investment. This includes an industry-wide framework to categorise most common approaches to responsible investment and standard definitions, which are designed to be applied at both firm level and fund level.
The IA is encouraging asset managers to adopt the framework to provide greater clarity for investors. From January 2020, the IA will be asking firms to identify which of their funds should be tagged as having responsible investment components in accordance with the framework.
Cost disclosure templates: new top tips
Earlier this year, the Cost Transparency Initiative (CTI) published new cost disclosure tools for asset managers and trustees, designed to help trustees compare costs and charges across investments (WNTW, 28 May 2019). The Pensions Regulator encourages trustees to use these templates when requesting charges information. The CTI has now published a new ‘top tips’ document on using the templates.