M&G to raise AMC on some funds - papers 13th July

Funds such as M&G British Opportunities have been charging 1% a year for nearly half a century but 18 of M&G's 45-fund range, which are worth a total £3.5bn, are increasing fees to 1.5% from September while initial charges are being cut from 5% to 4%. Chief executive Gary Shaughnessy points out other fund managers have had to move to the same AMC as standard, as costs have gone up. "We have been charging less than competitors for some time and this will bring us into line. Low charges with poor performance is unacceptable but the key issue is continuing to deliver strong performance a...