M&G updates annual charges

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. The 1. 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 c...