Govt to cap charges at 0.5% on £20bn infrastructure pension fund

The Treasury will announce plans for a Pension Infrastructure Platform (PIP) next month.  It will be the centrepiece of Chancellor George Osborne's National Infrastructure Plan in which pension funds bypass traditional fund managers and club together to invest in infrastructure projects such as building roads and bridges.  Under the plans, pension schemes involved will recruit external professionals to run the PIP. The platform will be open to other types of investors and charges capped at 0.5% Infrastructure UK chief executive Geoffrey Spence said. The charge mirrors levels use...