View more on these topics

L&G cuts tracker fund charges for UK advisers

Legal & General Investments has cut tracker fund charges for UK advisers in anticipation of post-RDR popularity.

L&G has lowered the charges on a number of its tracker funds by five basis points, an altogether reduction of up to 25 per cent on last year’s annual management charge.

The reduced charges will apply to the ‘I’ and ‘M’ unit classes of each fund, referring to the clean priced units which are also available on platforms. Such new charges will also apply to direct intermediary deals that meet minimum investment levels.

L&G has made the cuts to these charges in response to the RDR and the impact this has had on the popularity of tracker funds.

From today, the AMC for L&G’s single country and regional tracker funds is 0.15 per cent, reduced from 0.20 per cent. This range includes L&G’s £4.24bn UK Equity Index fund.

The AMC for core global tracker funds, which includes the L&G Emerging Markets Government Bond Index fund launched in November 2012, has been reduced from 0.3 per cent to 0.25 per cent.

L&G Investments managing director Simon Pistell says: “Interest in passive investing in the UK has steadily grown over the last two decades and 2013 could be a watershed moment.

“The RDR and shift to a fee-based advice environment has increased the pressure on advisers to offer greater value and reduce portfolio costs. Some are considering dipping their toes into index funds for the first time, and others are looking at new ways index funds can be used to construct portfolios.”


BlackRock co-head of multi-asset steps down

BlackRock co-head of global multi-asset strategies Colin Graham is stepping down and handing over the management of his two funds. Philip Green will become head of global multi-asset strategies for BlackRock, in place of Graham who will remain as an adviser to the team until the end of April 2013. Green was previously co-head of […]

Testing times

A client’s tolerance to risk needs to be assessed accurately before advice is given

Frontier markets firm Kazimir acquires Renaissance Asset Managers

Renaissance Asset Managers has been acquired by Russian frontier markets specialist Kazimir Partners for an undisclosed amount. The combined business will be independent and owned by its management and employees. Renaissance invests in Russia, emerging Europe, Africa and frontier markets. Its Ucits funds are distributed across Europe and the Middle East and have recently been […]

Converting pension savings to a retirement income…

Since last year’s reforms to pension legislation, a significant number of retirees have chosen income drawdown over purchasing an annuity. Income drawdown is more flexible than an annuity. However, it also increases the likelihood that individuals won’t be able to maintain their income throughout their lifetime. In this short video, we explain the risks that […]


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