AJ Bell has reduced charges on three of its passive multi-asset funds following a number of cost savings it has made as a result of the products growing in size.
The Passive Balanced fund, the largest portfolio, has seen its ongoing charges figure (OCF) cut to 0.4% from 0.47%, while the Passive Adventurous and Moderately Adventurous funds have seen their OCFs drop to 0.44% from 0.5%. The firm attributed the fall in fees to its commitment to pass on cost efficiencies as the funds grow in size. This means any savings as a result of fund growth or the firm negotiating lower underlying investment costs are automatically passed back to customers through a lower OCF. AJ Bell chops 10bps off Model Portfolio Service fees AJ Bell CIO Kevin Doran sai...
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