ClearGlass, a data collection and analysis platform, has launched to allow pension schemes to access cost information from asset managers.
Following an earlier soft launch, ClearGlass has so far secured business from 30 pension schemes, which involved 104 different asset managers, representing 470 mandates.
The platform was set up by Chris Sier, former chair of the Financial Conduct Authority’s Institutional Disclosure Working Group.
Mr Sier said: "We have been delighted with the enthusiasm that many pensions schemes, consultancies and asset managers have shown in engaging with ClearGlass already."
ClearGlass provides investment cost reports to pension schemes by collecting and analysing data from asset managers, according to the standardised templates prescribed by the IDWG.
It charges £100 per mandate and aims to be accessible to all types of pension scheme.
The new cost disclosure templates proposed by the IDWG were endorsed by the FCA last year.
At the time the FCA had said it wanted to see more consistent and standardised disclosure of charges to institutional investors and thought a standardised disclosure template should provide a clearer understanding of the cost for a given fund or mandate.
To oversee and monitor the introduction and operation of these new templates, a cost disclosure initiative was then set up.
The CTI is due to launch the digital version of the cost disclosure templates next month (May) to assist the asset managers in adopting them.
Mr Sier said: "So far very few asset managers have shown reluctance to cooperate with the new regime, whilst the majority have been keen and very positive about the new landscape of full cost transparency which is finally on its way.
"This is great news for all concerned, including pension scheme members."