In BoardIQ, Asset Management Partner David Sullivan Sub-Transfer Agency Fees

In The News
February 13, 2019

A Feb. 12 BoardIQ article titled “Sub-TA Here to Stay, so Some Aberdeen Funds Begin to Pay” reports that the Aberdeen Investment Funds board recently allowed management to shift the burden of paying sub-transfer agency fees to shareholders, likely creating more work for directors and possibly higher fees for investors. BoardIQ includes insights from asset management partner David Sullivan. “It’s almost universal that funds across the industry are paying sub-TA fees. How they get allocated between the adviser and funds varies,” Mr. Sullivan says in the article. “It hasn’t gotten any easier for boards, because it’s just an amorphous issue. Where the inquiry gets bogged down is the intermediaries themselves are not that forthcoming with information.”