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Aberdeen overhauls multi-manager pricing

Aberdeen Asset Management is moving from dual-pricing to single-pricing across its £680m multi-manager range and in its £40m diversified growth fund.

Currently, the units in the funds are assigned a daily buy and sell price. From May 18, the funds will have a single price at which investors will both buy and sell units on any one dealing day.

The multi-manager range consists of seven funds, and the multi-asset diversified growth fund.

A letter sent to advisers last week, seen by Money Marketing, says: “An initial charge is calculated as a percentage (up to 5 per cent) of the amount subscribed and is deducted from the subscription amount. Other fees and expenses currently applied to the dual unit prices will be included within the new singleprice calculation.”

An Aberdeen spokesman says: “Single-pricing is easier to understand and more common place. There will be no cost or detrimental financial impact to investors as a result of the conversion from dual-priced units to single-priced units.”

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