Vanguard cuts fees on LifeStrategy funds as price war continues

All five ‘all-in-one' portfolios will be available at an annual management charge (AMC) of 0.29% from 31 January, and the pre-set dilution levies (PDLs) will also be reduced. The AMC on the 100% Equity fund will see the biggest change change, dropping 4bps from 0.33%, while the PDLs on the funds will be reduced by 6bps-9bps. The entire range will also be converted from a non-Ucits Retail Scheme (NURS) to a UCITS structure to simplify access for retail clients. The group plans to widen the asset allocation strategy of the funds to create greater diversification across countries, sec...