| Sovereign wealth funds must begin exerting collective pressure on the financial industry over costs, New Zealand Super's chief told members of the International Forum of Sovereign Wealth Funds (IFSWF). “The days of opaque fee structures—enabled by asymmetric information and as a shield for the supply of ill-defined skill—must be curtailed,” said Adrian Orr, IFSWF chair, at the group’s annual meeting on Wednesday.
Nearly 80% of global SWF capital belongs to members of the group, including the Abu Dhabi, Kuwait, and Qatar investment authorities, Norway’s Government Pension Fund, and the China Investment Corporation. Orr, speaking in Milan, told these global players they together “pose credible pressure on the established investment model.”..............................................Full Article: Source
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