Standard Life Investments is slashing the initial charge on its Ethical Fund for investors looking to transfer their Peps.
The new initial charge on the fund will be 1.75 per cent down from 3 per cent. The annual management charge of 0.95 per cent remains unchanged.
The reduced initial charge will apply to all Pep transfers made between June 30 and September 30.
Standard Life managing director mutual funds Alan Burton says: "By reducing the initial charge from 3 per cent to 1.75 per cent we are aiming to give Pep investors the opportunity to transfer into the UK ethical Fund which represents compelling value for money."