M&G has increased the annual management charges on its 19 actively managed equity funds by 50% but has dropped its initial charges by one percentage point.
The group has raised annual fees from 1% to 1.
5% from 19 September, a decision that coincides with the replacement of its funds' X-share classes, which had an AMC of 1.
25%, on fund supermarket Cofunds with the retail A-shares affected by the charging decision.
5% annual management charges on David Jane's Managed fund and Graham French's Managed Growth fund will remain the same.
Neither have initial charges.
There are no changes to the bond funds, which typically charge AMCs between 0.
75% to 1.
There are also no changes to tracker funds.
M&G argues the changes will bring the funds in line with the rest of the market and will affect fewer than half of the group's investors.
Gary Shaughnessy, chief executive of UK retail, blamed the rising cost of regulation and distributing funds through an increasing disparate market including supermarkets for the changes.
He said that the changes to the charges will not mean the group will allow re-registration of funds in the range, a process which would be more practical under the new charging structure.
2019 Survey opens in June
'Necessary steps' taken
Penalty payments and enforcement policy
Fees as low as 0.04%
Client procurement costs ‘unsustainable’