The core of the Code is a template (PDF 266k or Excel 38k ) for completion by asset managers. This template was drafted and tested with the help of the West Midlands Pension Fund, Dr Chris Sier (who has worked extensively with the Dutch pension schemes in this area) and the Investment Association.


The template lists a series of broad headings for reporting costs and expenses and in its initial form will concentrate on those areas which should already be available but may not have been supplied by asset managers either proactively or in a format easily useable by LGPS funds.

There are separate templates for segregated portfolio management (the ‘segregated manager’ tab on the above spreadsheet) and for pooled funds (see the ‘pooled fund’ tab on the above). Where a manager operating a segregated mandate invests in a pooled fund as part of that mandate, the reporting will be done via the asset manager template.

The above template is for listed asset classes, and a separate template will be developed for unlisted assets such as private equity.

It is expected that the listed template may evolve from time to time, in line with the Investment Association's Disclosure Code.  If you have any comments etc. on the template, please email [email protected] or [email protected].