JPMorgan Asset Management (JPMorgan AM) has slashed annual charges on its Fusion fund range, to improve the competitiveness of the portfolios.
The fund range, run by Tony Lanning, comprises five risk-rated fund of funds. The funds include Fusion Income, Fusion Conservative, Fusion Balanced, Fusion Growth, and the Fusion Growth Plus fund.
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Under the latest move, effective from 1 April, AMCs for the five funds will drop from 0.75% to 0.5% for each fund’s C share class, with ongoing charges decreasing from the 1.52%-1.66% range to a new range of 1.27%-1.41%.
JPMorgan AM UK funds head Jasper Berens remarked, "We are making this change to improve competiveness of Fusion funds in the marketplace, which has evolved significantly since we launched the proposition more than two years ago."
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