Standard Life Investments has slashed the annual management charge on its biggest Pep fund to meet Inland Revenue guidelines for Cat standards.
SLI is cutting the annual management charge from 1.5 per cent to 1 per cent on its Global Advantage fund on February 28.
The move by SLI represents the first of two Cat marked equity funds it will offer.
SLI is now awaiting regulatory approval for a second new fund that will meet the guidelines, although SLI will not reveal if this will be actively managed.
The entry charge for Global Advantage will remain at 0 per cent and the minimum investment will be £500.