From September 1, JPMAM will fix the ‘other and administrative’ expenses on its ‘A’ shares at 18 basis points, irrespective of the asset class across its entire UK OEIC range.
JPMAM says the initial charge on most ‘A’ shares will also be reduced from 5.5 per cent to 4.25 per cent, giving direct investors the ability to access the funds at an average industry cost.
The company adds that the changes are consistent with the RDR and MiFID and will allow IFAs to make clearer choices around how they charge for their services.
JPMorgan Asset Management head of UK sales Jasper Berens says: “Transparency and clarity continue to be major talking points within the financial services industry. We are therefore happy to be heralding these changes now as we are genuinely committed to delivering the very best and fulfilling our clients’ needs in an ever-changing and complex market place, by not only listening to their concerns but by addressing them in a proactive and practical manner.”