Standard Life Investments has reduced the annual management and platform charges on its flagship MyFolio funds by more than 30 basis points following a recent review.
From 1 November, the firm will cut the fees on the £10bn multi-asset range by 0.15 per cent and 0.325 per cent depending on the share classes existing and new investors select.
In addition, the company will slash fees by 0.175 per cent for the funds available on UK platforms. Previously, the range was charging between 0.40 per cent and 0.65 per cent.
Aberdeen Standard Investments MyFolio investment specialist Iain McLeod says: “We regularly review our funds in order to ensure that we are always acting in the best interests of our investors. As a result of our latest review, we concluded that an adjustment should be made to the pricing structure of our MyFolio range of funds. This change further enhances our market-leading proposition for investors in the risk-based fund of funds market.
“Through MyFolio, we aim to strike the balance between the risk an investor is willing to take and the potential rewards they receive in return. Since its launch in September 2010, investors have enjoyed returns which have been, without exception, in line with their chosen level of risk. This consistently strong performance over the last seven years has made MyFolio an enormously successful solution in the post RDR era and we thank advisers and investors alike for their continued support.”
Over the past two months, groups such as Fidelity Investments and Baillie Gifford have slashed fund charges charges across their Oeics and Ucits ranges.