Ohio Pension Fund Joins Push for Disclosure
Ohio’s public pension system Thursday joined a growing list of companies and institutions urging securities regulators to require that mutual funds and asset managers disclose their trading costs.
The Ohio Public Employees Retirement System, which manages about $75 billion in assets, also asked the Securities and Exchange Commission to require broker-dealers to disclose how much of commissions cover a trade’s execution and how much is charged for other services.
Commissions typically pay not only for trades but also for such services as stock research, computers for trading and receiving market data, and magazine or newspaper subscriptions.
“Better transparency and disclosure will provide investors with useful information and improve investors’ ability to compare and assess the performance of mutual funds and the expense structure,” said Neil Toth, chief investment officer at Ohio’s public pension system.
The SEC in December asked for public comment about the disclosure of mutual fund transaction costs.
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