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Par fund clarity - full bonus history is quite reasonable

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If there's any lesson to be learnt from the experiences of the United Kingdom about participating funds - also known as "par funds" - it is that too much transparency is likely to snuff the life out of the industry.

IF there's any lesson to be learnt from the experiences of the United Kingdom about participating funds - also known as "par funds" - it is that too much transparency is likely to snuff the life out of the industry.

A few decades ago, measures aimed at introducing greater transparency in

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