Originally developed in 2017, the STER template was created to provide a single, standardised expense ratio that allows institutional investors to easily compare and monitor fees and expenses across different funds – in response to MiFID requirements.
Following a review throughout 2024 in line with evolving regulatory expectations on transparency and reporting, the SBAI is seeking to finalise the template within the working group and strike the right balance between transparency and practicality.
The review focuses on improving transparency:
- Fees and remuneration
- Related party pass-through expenses
- Additional sub-categories within operational expenses.