Lege TREND. Sunset. Legislature Curbs Money Manager Fees. 3 Pieces Informed Intel.

The State: California

Signed by Gov. Brown: September 14, 2016

The legislative changes to pension investment managers:

• required disclosure of invesment management fees
• required disclosure of performance fees
• partial disclosure of “the fees private equity firms collect from the companies they buy out”

Calpers and Calstrs board member said it is “the “nation’s most robust transparency requirements” concerning investments in the buyout funds.”

7 States introduced fee disclosure legislation in 2016 only California passed a bill.

BloombergMarkets | California Pensions to Say More on Fees, but Critics Persist