Pension funds appear to be shifting to a hands-on investment approach, bringing more asset-management responsibilities in-house to lower their costs, according to a report from State Street Corp.
In "Pension Funds DIY: A Hands-On Future for Asset Owners," State Street found that 81 percent of funds are exploring bringing more management responsibilities in-house over the next three years.
Cost concerns are driving the trend, as 29 percent of funds said it is becoming more difficult to justify the fees paid to outside managers.
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