Premier Miton is to reduce the fees on eight of the funds in its multi-asset arm as managers are reshuffled and Simon Evan-Cook leaves the firm.
The fund house is to cut the ongoing charge on its Multi-Asset Conservative Growth and Multi-Asset Growth and Income funds, introduce a charge cap on its Multi-Asset Distribution and Multi-Asset Absolute Return funds and lower the cap on its four Liberation funds over the next few months.
Mike O’Shea, chief executive officer, said: “The cost of investing is a key consideration for advisers and individual investors, alongside achieving good investment outcomes.
“Following the merger of Premier and Miton we have been able to consider how to offer relevant multi asset solutions across a broader range of distinctive multi asset investment teams and styles.”
|Fund||Current OCF||New OCF|
|Multi-Asset Conservative Growth fund||1.50%||around 0.88%|
|Multi-Asset Growth and Income fund||1.50%||around 1.0%|
|Fund||Current OCF||New OCF cap|
|Multi-Asset Distribution fund||1.54%||1.20%|
|Multi-Asset Absolute Return Fund||1.21%||0.99%|
|Fund||Current OCF cap||New OCF cap|
|Liberation fund IV||1%||0.99%|
|Liberation fund V||1%||0.99%|
|Liberation fund VI||1%||0.99%|
|Liberation fund VII||1%||0.99%|
Mr O’Shea said the fund house had found ways to deliver “even more value” for clients without adjusting the risk profile or their ability to deliver results.
The fee cuts comes as Premier Miton shuffles its multi-manager and multi-asset teams. The Premier Miton Growth and Income and Conservative Growth funds currently sit in the multi-manager range, but will now be managed by the multi-asset side.
David Jane and Anthony Rayner will take over the funds, but the investment objectives and risk profiles of the portfolios will not change.
Meanwhile, Wayne Nutland, manager of the Managed Index Balanced fund and previously in the multi-asset team, is joining the multi-manager team and bringing the portfolio with him, while Simon Evan-Cook, a fund manager in the multi-manager team, is to leave the business at the end of January.
As part of the changes, Premier Miton’s chief investment officer Neil Birrell will become manager of the Balanced Multi-Asset fund from March 1 and will introduce a new focus on sustainable investments.
Mr Birrell said: “The planned sustainable approach of our Premier Miton Balanced Multi-Asset fund will expand our investment range of ESG and responsible investing themed funds.
“We believe that our track record in ethical and sustainable funds, together with the high performance and reputation of our investment teams, means we have an attractive range which caters for the strong and growing demand for these types of investments.”
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