Former Investment Association head Daniel Godfrey is in discussions with ShareAction chief executive Catherine Howarth on how to tackle fund manager pay, and incentive structures across the industry.
The duo will research a number of themes, including the underlying design of pay schemes, and how remuneration structures work.
This includes compiling documentation on agreements between pension funds and asset managers as well as establishing how payments are made between firms.
Howarth said it is imperative investors understand how fees are calculated, and what they are paying for.
Godfrey added that incentive structures must be transparent, and show how they are aligned to value delivered to investors.
Godfrey hurriedly left the IA in controversial circumstances last October. Member firms M&G and Schroders had threatened to resign, and Aberdeen Asset Management, Fidelity and Invesco Perpetual also announced their involvement was under review.
Under his leadership, the IA played a leading role in the creation of the Investor Forum, a body set up to improve dialogue between institutional investors and large listed businesses.
He also pressed asset managers to sign up to a voluntary code of conduct, which contained many obligations in respect of fee disclosure and transparency that proved highly divisive in some quarters. Implementation of the code has been indefinitely shelved since his departure.
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