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Asset pooling already pushing manager costs down, says expert

Pooling the assets of UK local authorities’ pension schemes into eight so-called wealth funds will have a significant impact on asset managers.

That is according to Andy Todd, head of UK pensions and banks within State Street's asset owner solutions unit.

Speaking to Modern Investor, Todd said the fees for asset management services have already suffered downward pressure, meaning asset pooling has already had one of its desired effects.

The State Street expert also described how Australian superannuation funds can provide an example in asset pooling for the LGPS.

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