FITZ Customised Peer Group Analysis & Board Reporting

Fitz Partners offers Asset Managers customised Board Reports and fee review analysis, allowing a detailed independent review of their funds share classes on cost and performance. Fitz Partners handles the full fee review and benchmarking process from peer group construction to the publishing of high quality PDF reports directed at fund directors or fee committees. Asset Managers can also opt to receive the reporting content as a data file in order to seamlessly integrate it into their review systems or templates.

The thorough fee review can be customised, and always contain detailed benchmarking of each client’s share classes across a choice of fund fee components relative to an independently selected FITZ Partners peer group. Other FITZ Partners unique fee categories can also be used in the peer group construction, such as performance fees, fee caps, minimum investment, early birds fee structures, etc.

FITZ Board Reports are designed to allow fund boards and fee committees to review all relevant share classes using a consistent methodology and relatively position products on value through fee and fund performance quartile indicators all in one place.

Fund Fee Compliance

FITZ Partners has been delivering UK and European Cross- Border Board Reports since 2014, supporting Asset Managers in their internal periodic fee reviews, UK Assessment of Value, responses to the ESMA Supervisory Briefing on the supervision of costs in UCITS and AIFs and subsequent NCA requests and more recently, UK Consumer Duty, and the European Commission’s Retail Investment Strategy.

The Custom Board Reports provide clients with detailed insights, benchmarks and analysis of fees, expenses, and performance across their product ranges. The reports also identify potential cost savings, benchmarking data in order to review fund positioning vs the comparable market, and best practices to help clients optimise their fee structures.

Independent Benchmarking

FITZ Board Reporting is a critical tool for our clients as it provides a comprehensive analysis of their fee structures, expenses, and performance across their product ranges. FITZ Board Reporting is independently run, ensuring that the analysis is unbiased and objective. This impartiality is an essential aspect of our board reporting as it helps clients identify areas for improvement and optimise their fee structures while reporting to the regulators.

External Efficiencies

Rather than investing significant time and resources into building analysis internally, analysing their fee structures, clients can rely on the independent analysis provided by our board reporting. This saves clients both time and resources, allowing a greater focus on other aspects of their business.

In addition to being resource-efficient, board reporting is also time-efficient. The process is typically completed within a set timeframe, allowing clients to receive timely insights of their fee structures, which is essential as it enables our clients to make informed decisions quickly and adapt to changes in the market.

HOW WE WORK

Our Board Reporting benchmarks our client’s share classes in terms of both fees and performance, against peer groups made of independently selected like for like share classes from relevant selected funds.

Our reporting team review each individual peer group in order to ensure peers align in terms of aimed end investor, asset class, investment area, sector. Dependent on client needs these peer groups can be indicative of a whole market rate for comparable share classes within comparable products or focused on a specific number of closest peers to the share class in question.

These reports are then built using fee data from our Fund Charges databases. All calculations are based on our consistent calculation methodology which enables us to break down the expenses of each fund at share class level in order to benchmark every component of the Ongoing Charges Figure (OCF). We additionally source performance data and link to our fee calculations. 

Our reporting provides, alongside an executive summary indicating each share class positioning in terms of fees and performance versus their peers, a deep dive into those closest competitor fee structures, a section detailing the overall relative product positioning across all share classes, trend analysis and a full appendix of all source data.

Fund Fees & Expenses

The Benchmarking Experts in Europe

FITZ Partners has been providing unrivalled fund fees & charges data and benchmarking expertise to the European asset management industry for over 10 years. We support over 60 European and global Asset Managers by delivering detailed and independent fund fee data and fund value reporting. Our specialist team in London is dedicated to providing best-in-class client service and offering leading industry expertise in fund costs, peer group construction and fund value benchmarking.

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