View more on these topics

Aberdeen offers cut price RDR-share classes on multi-manager range

Aberdeen Asset Management is offering a 0.5 per cent annual management charge on its RDR-ready share classes for its retail multi-manager range.

The move is across its seven strong-range of retail funds, which includes the £303m Cautious Managed, £90m Equity Managed, £68 Constellation and £55m Distribution portfolios. The multi-manager team manages around £7bn in long-only multi-manager portfolios.

Aberdeen senior portfolio manager Scott Spencer says: “We decided to make this move on the back of feedback from advisers. Offering this unbundled share class also lowers the ongoing charges of the fund – something which has been an issue for advisers looking at multi-manager funds – making them a more attractive proposition.

“There will be no change in the running of these funds, we will not be introducing more underlying passive funds or tampering with the asset allocation on the back of this price change. It will be business as usual.”

Last month, F&C Asset Management also cut the annual management charge across its four-strong range of lifestyle multi-manager funds from 0.6 to 0.5 per cent in preparation for the RDR. Most fund groups have typically offered RDR share classes priced at 0.75 per cent.

Aberdeen head of strategic partnerships UK Steve Andrews says: “We believe the pricing will compare favourably against many other multi-manager offerings.”

Chelsea Financial Services managing director Darius McDermott says: “It is always welcome to see funds lowering their fees. We would like to see more groups follow suit.”



MPs call for “urgent” review of Govt social housing policy

The House of Commons public accounts committee has called on the Government to “urgently” review its social housing policy in a highly critical report. The report, Financial stability of the social housing sector, published today, slams the current affordable housing programme for being too limited and passing on costs to other departments. The current programme […]


Tony Wickenden: What tax ‘advice’ is HMRC trying to stop?

Last week, I looked at the importance of advisers who offer a fee-based advisory service (however the adviser charge is made) in concentrating on the promotion and delivery of advice in areas that their clients will value… and pay for. According to the excellent JP Morgan research report ‘Winning Propositions’ this will (thankfully!) include tax […]


Govt set to review impact of FSA rules on small firms

Enterprise adviser to the prime minister Lord David Young says he is “fed up” with the FSA and will review the impact of its regulations on small businesses. Delivering the Conservative policy forum annual lecture at the Conservative conference in Birmingham last night, Young said financial regulation could be scaled down in the same way […]

Threesixty acquires stake in paraplanner firm

Support Services firm Threesixty has taken a 25 per cent stake in outsourced paraplanning business The Timebank. The move sees Threesixty managing director Phil Young take a seat on The Timebank’s board. The Timebank has eight paraplanners and three admin staff. It was founded in 2003 by managing director Damian Davies. The remaining 75 per […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm