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Neptune increases global alpha fund charge by 0.4%

Neptune has increased annual management charges on many of its funds by as much as 40 basis points.

Biggest hit will be investors in its global alpha fund, previously the Neptune managed fund, who will see their AMC rise from 1.6 per cent to 2 per cent. The AMCs on Neptune’s European and global funds have risen from 1.6 per cent to 1.75 per cent and on its balanced fund from 1.5 per cent to 1.6 per cent.

A spokeswoman says the charges have gone up in line with the industry average and reflect the firms’s strong performance figures last year. She says the increases also reflect the fact that Neptune’s investment team is growing and its research is done in house.

But Churchill Investments head of research Warren Perry says Neptune is simply being greedy. He says: “Neptune is saying that the AMC increases are down to the additional resources required to maintain the excellent performance of its funds but I think they are being handsomely rewarded enough. I am very much of the opinion that it is just an opportunity to exploit a bit more money out of the unitholders. It is very disappointing and comes as a bolt out of the blue.”

Neptune is also thought to be soft-launching three new funds, including an Indian equity and special situations fund.

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