Aberdeen cuts fees on two bond funds

UK-Currency-Money-Coin-Pounds-GBP-700x450Aberdeen Asset Management has reduced the charges on two of its bond funds.

The funds, which are part of the Aberdeen Investment Funds ICVC range, are the £29.5m Euro Corporate Bond and the £1bn Global High Yield Bond funds.

In a letter sent to investors, the asset manager says annual management charges on the A share class will be reduced on the Euro Corporate Bond fund from 1 per cent to 0.90 per cent and on the income and accumulation versions of the Global High Yield Bond fund from 1.5 per cent to 1.25 per cent.

The new charges will be effective from 1 August.

The group said it has no plans to reduce the AMC in the future but will notify clients two months in advance if it makes any other changes.

In February, Aberdeen cut the fees on the £165.8m World Emerging Markets Equity fund, now Global Emerging Markets Quantitative Equity fund, the £1bn UK Enhanced Equity fund and the £1.2bn Foundation Growth fund to reflect “the investment strategy and current market environment” in which the funds operate.