View more on these topics

OMGI and Jupiter to change pricing structures across fund ranges

UK-Currency-Money-Coins-700.jpgOld Mutual Global Investors and Jupiter are switching from dual pricing to single pricing across their respective fund ranges, while OMGI is also introducing a fixed ongoing charge for its single strategy UK funds.

Both firms say the pricing changes follow reviews and are intended to standardise their approaches with the industry.

Vanguard and Axa Investment Managers also switched their funds to single pricing this year. The move essentially removes the bid/offer spread and counters the impact of any significant shareholder movement with the portfolios.

Warren Tonkinson, managing director, Old Mutual Global Investors, says: “While the majority of our funds already operate on a single-priced basis, the changes will mean the same pricing policy applies across all OMGI funds.”

A spokesperson for Jupiter says: “We undertook a review of pricing across our mutual fund range to ensure we are competitive and providing transparency and value for clients.

“Implementing single pricing, which we will complete in 2018, will bring our unit trusts into line with the our Sicav range, which is already single priced, and will also align our products more clearly with what has become the common approach within our industry, making comparisons easier for our clients.”

From 1 March 2018, OMGI will introduce a fixed ongoing charge to replace the existing annual management charge and fixed administration costs across its internally managed, single-strategy UK funds. There will be no change to the funds’ ongoing charge.

The move follows the introduction of a fixed expense charging structure in January 2015.

“This simplified pricing model is expected to provide greater clarity to investors with regards to the ongoing costs associated with investing in our funds,” Tonkinson adds.



Which financial services names have made the Rich List?

The founders of Hargreaves Lansdown have seen their wealth increase over the last year as it emerges who gave what to the Leave and Remain campaigns ahead of the EU referendum. The Sunday Times Rich List, published yesterday, reveals co-founder of Hargreaves Lansdown Peter Hargreaves is ranked 51 among the UK’s wealthiest 1,000 people. His […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment