Kames Capital is to reduce the annual management charge (AMC) on its UK Equity fund to 0.6 per cent in a bid to make the product more competitive.
The £270m fund, run by Stephen Adams and Philip Haworth, will see its AMC reduced from the existing level of 0.75 per cent as of April 1. Its current ongoing charge is 0.81 per cent.
The portfolio has returned 31.2 per cent over the past five years compared with an IA UK All Companies sector average return of 38.5 per cent. Over three years the fund’s performance is in line with its sector.
Steve Kenny, director of wholesale at the firm, said: “We regularly review our funds to ensure they remain competitive in the wider market and that our investors receive value for money.”