Aberdeen to slash fees on three funds

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Aberdeen Asset Management is cutting the fees on three of its funds.

In letters sent to investors, the asset manager says it will cut fees on the £166m World Emerging Markets Equity fund, the £1bn UK Enhanced Equity fund and the £1.1bn Foundation Growth fund.

The annual management charge on the class A shares of the World Emerging Markets Equity fund will reduce from 1 per cent to 0.40 per cent, while the class B share fees will drop from 0.50 per cent to 0.40 per cent.

The annual management charge for the UK Enhanced Equity fund will reduce from 1 per cent to 0.20 per cent, and on the Foundation Growth fund it will drop from 1 per cent to 0.15 per cent. The changes will be effective from 1 April.

Abderdeen says the reductions reflect “the investment strategy and current market environment in which the fund operates”.