The Newton Cautious Managed fund will waive its initial charge until the end of May, following a move to the IMA Cautious Managed sector under new manager Simon Nichols.
The waiver follows BNY Mellon Asset Management's decision at the end of last year to cut the fund's AMC from 1.5% to 1.25%.
Since assuming control of the fund, Nichols has repositioned the portfolio, which was called the Newton Equity & Bond fund until January 29.
Its equity exposure has been limited to 60%, with at least 30% in fixed income and cash.
Nichols says: "We believe that investing across the corporate capital structure and limiting our equity exposure to 60% of the fund, will provide an attractive prospect for the more cautious investor in a growth constrained environment."
Minimum investment in the fund is £1,000, or regular savings of £50 monthly.
Financial regulators renew anti-pensions scam campaign
Our weekly heads-up for advisers
Permissions regained on 10 August
Also worked at Westpac and Barclays
Auto-enrolment enforcement rises