Franklin Templeton has cut the fees on a trio of UK equity funds amid continued downward pressure on charges.
Its £179m UK Equity Income, £66m UK Opportunities and £22m UK Rising Dividends offerings will each see the annual management charge (AMC) fall from 75 basis points (bps) to 45bps from the start of July.
The move brings the ongoing charges figure - which had ranged between 84bps and 94bps across the trio - to 55bps for each fund.
Alex Brotherston, head of UK retail sales at the asset manager, said: “We have responded to the need for active management at a compelling fee by introducing a market-leading AMC of 45bps on three of our UK equity funds.”
According to FE Analytics, the UK Equity Income fund has delivered 29.4 per cent over three years, compared with 18.5 per cent from its IA UK Equity Income peer group.
Over the same period UK Opportunities and UK Rising Dividends have returned 25.7 per cent and 30.7 per cent respectively, compared with 15.2 per cent from their IA UK All Companies peer group.