Deutsche to introduce lower initial charges

Deutsche Asset Management is to permanently lower the initial charge on its fund range from 5.25% to 4.25%. The reduction comes as Michael Warren takes over from Neil Jones as managing director of Deutsche's UK retail business, following Jones' departure from the group earlier this month. It coincides with the range's conversion to an Oeic structure, a process which is currently under way. The change does not apply to the Corporate Bond Plus fund, where the 4% initial charge will remain. Three tracker funds have already been converted to Oeics, although these had no initial charges. T...