Aberdeen to slash fees on three funds

Spotlight on charges 700x450.jpgAberdeen Asset Management is cutting the fees on three of its funds, Fund Strategy can reveal.

In letters sent to investors and seen by Fund Strategy, the asset manager said it will cut fees on the £166m World Emerging Markets Equity fund, the £1bn UK Enhanced Equity fund and the £1.1bn Foundation Growth fund.

The annual management charge on the class A shares of the World Emerging Markets Equity fund will reduce from 1 per cent to 0.40 per cent, while the class B share fees will drop from 0.50 per cent to 0.40 per cent.

The annual management charge for the UK Enhanced Equity fund will reduce from 1 per cent to 0.20 per cent, and on the Foundation Growth fund it will drop from 1 per cent to 0.15 per cent. The changes will be effective from 1 April.

Abderdeen states that the reductions reflect “the investment strategy and current market environment in which the fund operates”.