The UK Government has confirmed it will proceed with reforms to the Charge Cap that would exempt some performance fees from the Charge Cap, subject to other safeguards being put in place to ensure effective member protection.  This is consistent with our response to the Government’s consultation on ‘enabling investment in productive finance’.  The Government will now consult on principles-based draft guidance on ‘well designed performance fees’ to support DC pension schemes’ approach to investing in assets which incorporate performance fee structures, and new disclosure requirements for UK DC pension schemes investing in illiquid assets.

If you have any questions please contact Nicholas Smith