ALLIANCEBERNSTEIN IS THE LATEST ASSET MANAGER TO JOIN PTL’S CLEAR
FUNDS SOLUTION
PTL, the leading independent trustee and governance services provider, today
announced that AllianceBernstein, the global investment management firm, has
appointed them to provide Clear Funds – PTL’s innovative transaction cost assessment
service.
Richard Butcher, Managing Director at PTL, said: “In deciding to use Clear Funds, AllianceBernstein is demonstrating to its clients that it takes cost transparency very seriously, is responsive to change and proactive in developing and evolving what they deliver to their clients. “Clear Funds was created to help asset managers support their clients, whether trusts or IGCs, in assessing the value of transaction costs incurred by their funds. No other solution offers the same type of assessment, which saves time, effort and money for fund managers, intermediaries and trustees/IGCs. “The benefits of using Clear Funds are tangible and demonstrable to clients and we look
forward to working with AllianceBernstein throughout the Clear Funds assessment. It is
fantastic that more managers are seeing the compelling benefits of what Clear Funds
offers.”
David Porter, Head of Investment Delivery, Multi-Asset Solutions, EMEA at
AllianceBernstein, said: “Transparency of charges is not only a regulatory requirement
but of utmost importance to us and trustees, enabling them to make an informed value for
money assessment in their Chair’s Statement. “Clear Funds provides us with an independent assessment and verification of our transaction cost reporting in an easy to understand format for us and our clients. This underlines our ongoing commitment to transparency and high quality reporting, which directly supports our clients in the governance of their DC pension schemes.”
AllianceBernstein joins Schroders in using Clear Funds. Schroders appointed PTL a year ago, and its flagship DC funds have now been officially assessed for value for money in terms of their transaction costs, providing assurance for DC trustees and IGCs.
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