The six funds affected by the change were Global Growth, Global Equity, Australian Absolute Return Bond, Global Aggregate Bond, Multisector Bond and Australian Core Plus Bond.
In the case of the Australian Core Plus Bond fund, management fees would reach as low as 0.35%.
Matthew Harrison, managing director for Franklin Templeton Australia and New Zealand, said the reduction would help clients during a difficult time in markets.
“Now more than ever we are focused on the value of the strong partnerships we have with our clients and these fee reductions reflect our continual goal and commitment to deliver on these relationships,” he said.
“In addition to the focus on fees, over the past 12 months Australian financial advisers have faced mounting cost pressures amid an increasingly complex environment. We are continually looking at ways to strengthen our partnerships with financial advisers and by reducing our management fees on these funds we will better enable advice practices to form deeper relationships with their clients.”
|
Fund Name |
Old Management Cost |
New Management Cost |
|
Franklin Global Growth Fund (W Class) |
1.13% |
0.90% |
|
Franklin Australian Absolute Return Bond Fund (W Class) |
0.65% |
0.50% |
|
Franklin Templeton Global Aggregate Bond Fund (W Class) |
0.59% |
0.54% |
|
Franklin Templeton Multisector Bond Fund (W Class) |
0.93% |
0.85% |
|
Templeton Global Equity Fund (W Class) |
1.13% |
0.95% |
|
Franklin Australian Core Plus Bond Fund (W Class) |
0.43% |
0.35% |
