Aberdeen slashes fees on two bond Sicavs

Aberdeen Asset Management is preparing to reduce fees on two of its Sicav short-term bond funds.

The move will see annual management charges brought down on the €209m (£164m) Aberdeen Global II Euro Short Term Bond and $146m (£89m) US Dollar Short Term Bond funds dropped.

Both funds are Luxembourg-domiciled Sicav mandates currently run by the money markets team at Aberdeen AM.

Aberdeen AM has confirmed that the J and X share classes on the Aberdeen Global II Euro Short Term Bond fund will see annual management fees halved to 25 basis points.

Charges will also be reduced from 90 basis points to 50 basis points on both fund’s A share class.

Each of the changes are set to come into effect at the start of October 2014.