SEI has reduced the total fund fees of its clean share class of several funds by 5-10 basis points to bring parity between clean and bundled share classes.
The funds fees being reduced are the Wealth A share class of the SEI Defensive Fund, the SEI Conservative Fund, the SEI Moderate Fund and the SEI Aggressive Fund.
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The total fund fees of SEI Defensive Fund has been reduced to 0.65% from 0.70% and SEI Conservative Fund will now be available at 0.75% apart from the earlier 0.80%.
SEI Moderate Fund’s fees has been cut to 0.80% from 0.90% while the SEI Aggressive Fund is reduced to 1.05% from 1.11%.
The company claims its strategic portfolios are risk-rated, multi-asset funds with a manager-of-manager investment structure that provides retail investors access to some of the best active institutional fund managers globally.
SEI head of European asset management distribution Kevin Addison said while the company have offered a clean share class since the SEI Strategic Portfolios introduced in 2009, for legacy reasons the prices of some of the funds were slightly out of alignment with their bundled equivalents.
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By GlobalData"As a company committed to ensuring that all investors receive the best possible price, regardless of share class, we are pleased to adjust these fees appropriately," Addison said.
