Chip Hymiller: Fees need to be disclosed

March 27, 2014 

Regarding the March 5 business story “Clash over pension funds continues”: Kudos to the State Employees Association of North Carolina for questioning the fees paid to advisers and sub-advisers on “their” pension.

Having been in the investment industry more than 15 years, I can say that there are fees assessed at every level. With academic research proving again and again that there is in fact a correlation between investment risk and returns, it seems to me that performance-based fee arrangements of any kind are unjustified and a waste of money.

I hope that Edward Siedle carefully scrutinizes the relationships between all the decision-makers of the pension and that this information is disclosed. When it comes to investing, transparency is essential. There is an awful lot at stake!

Chip Hymiller

Raleigh

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