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Transaction cost analysis
The costs you cannot see on a fee schedule
Implicit costs and inefficiencies erode returns just as surely as explicit fees, and they are far harder to spot without dedicated analysis.
The price movement a trade itself causes, working against the investor as order size grows.
The cost of the time lag between an investment decision and its execution in the market.
Revenue and risk that is often overlooked in the total cost picture of a mandate.
Transaction taxes and withholding that vary by market and can be structured more efficiently.
Operational friction in how trades are routed, settled and reported, adding cost without adding value.
Including GP-level fees and charges that sit outside the headline management fee entirely.
Multiple fees and costs make up the total fee load
Having transparency on the holistic fees paid gives you a better ability to compare managers, negotiate better overall fees and optimise the net returns you generate.
- Management fee40%
- Implementation shortfall25%
- Other fees20%
- Brokerage fee15%
Illustrative composition of the total fee load. Actual proportions vary by mandate and strategy. Source: bfinance.
Time-stamped trade accuracy
We engage directly with your managers and providers to build a historical trade performance profile, then measure the explicit and implicit costs embedded in every transaction.
The result is aggregated with other cost sources to give a genuinely holistic view of your total costs, and a clear overview of the competitiveness of your current arrangements.
The rest of our fee review, benchmarking and negotiation offering
All statistics and cost-saving estimates are derived from bfinance's proprietary analytics, historical client engagements and benchmarking exercises. Results are illustrative and based on actual cases; they are not guaranteed outcomes. Supporting data and methodologies are available on request for institutional investors. Past performance is not indicative of future results.
