Investec raises AMCs on five funds

Investec Asset Management has increased annual management charges (AMCs) on five of its funds, including its £1.6 billion Cautious Managed fund run by Alastair Mundy.

Annual charges on the cautious fund and on Mundy’s £73m Managed Distribution fund have risen from 1.25% to 1.5%.

Fees on John Stopford’s £268m Strategic Bond and £150m Global Bond funds have risen from 0.75% to 1% and from 0.95% to 1.25% for the £197m Monthly High Income fund run by Kieran Roane and Theodore Stamos. But the firm has cut the charges on Stopford’s £374m Target Return fund from 1.5% to 1.25%. (article continues below)

David Aird, the managing director, says: “Our AMCs are broadly in line with the industry average.”