400 Basis Points for an Index Fund? Colombia to Expose High Fees

Colombia is planning to force pension fund managers to be more transparent about their costs, in a bid to bring down some of the world’s highest management fees.

A regulatory decree, which will be published this quarter, will oblige managers of so-called voluntary pension funds to publish clearer and more comprehensive information about the fees they charge clients, according to Felipe Lega, head of the Finance Ministry’s financial regulation unit.

“The disclosure of fees was probably not so clear or not so obvious to investors,” Lega said in an interview. “It is important that this disclosure is made from ...