LPs only report half of costs
Only half of total investment management costs are included in LP financial statements, meaning tens of billions of dollars are unaccounted for.
The finding comes from an analysis carried out by CEM Benchmarking, for Top1000Funds.com.
The findings were based on cost and performance data from 300 global pension and sovereign wealth funds, representing $9.3trn in assets. The data was collected over a 28-year period by CEM’s database, as well as a recent study of financial reporting disclosure practices of 24 global funds, representing $4.4trn
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