Management fees up by more than 50%

Superannuation and pension funds around the world are paying on-average 50% more in fees than they were five years ago, according to research by consulting firm Watson Wyatt. The research shows that fees now average around 1.1% compared with around 0.65% in 2002, with the vast majority of these costs being paid in fees to external investment managers and brokers.Graeme Miller, head of investment consulting at Watson Wyatt Australia, says one of the main reasons for the rise in fees is…