Old Mutual GI introduces fixed OCF and volume discounts

As of 9 January 2015, the OCFs on the group's funds will no longer be an approximate figure based on either an estimate or a previous year's charge. The new fixed expense rate, which will stand at 0.15% for most funds, predominately encompasses administrative costs and professional fees and will result in an OCF cut for 60% of OMGI's fund range. Other costs, such as broker commissions and fees paid to authorised corporate directors, are not covered by the figure. The changes mean portfolios such as the UK Alpha fund will have a higher OCF, but the Richard Buxton (pictured) portfoli...