This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here.
X
MM+cover+small+180914
Categories:Investments

Ardevora drops fund's equity name

  • Print
  • Comment

Ardevora has dropped the equity label on its £14.6m UK equity income fund after investors confused it with the firm’s £2m UK equity fund.

The fund’s name changed to Ardevora UK income fund on November 1.

Ardevora partner Rob Page says: “We have had clients ringing up and trying to place trades in the income fund and they have been confusing the fund names. The name change will help differentiate the income fund from the UK equity fund.”

Informed Choice executive director Nick Bamford says: “We are in favour of clarity and transparency. Any move to remove confusion for consumers must be a good thing.”

Ardevora has reduced the annual management charge on the UK equity fund and £1.3m Ardevora global equity fund from 2 per cent to 1.75 per cent in the retail share class. They were also switched to daily dealing from three times per month. The UK income fund’s annual charge remains unchanged at 1.5 per cent.

Ardevora’s three funds have stopped carrying out performance fee equalisation so that they can be represented more on platforms. This means that performance fees are calculated on the fund, rather than per client.

Ardevora, which has its funds on Transact, is in final discussions with Cofunds and Ascentric.

  • Print
  • Comment

Daily Email Updates
If you enjoyed this article, sign up to receive the latest news and analysis from Money Marketing.

The Money Marketing CPD Centre
Build your annual CPD - you can log and plan your CPD hours for free with The Money Marketing CPD Centre.

Taxbriefs Advantage
Advantage is a digital reference source giving unbiased, independent, answers to your technical queries. Subscribe to Taxbriefs Advantage.

Have your sayEdit my profile/screen name

You must sign in to make a comment

Fund Data

Editor's Pick



Poll

Have you heard of cases of advised sales being disguised as execution-only?

Job of the week

Latest jobs

View all jobs

Most recent comments

View more comments