Acadian Asset Management cuts fees
Acadian Asset Management has announced the reduction of base and performance fees for several of its funds in Australia following a decision to bring wholesale distribution of the funds in-house at the start of the year.
Acadian’s Australia chief executive and head of Asia Pacific, Andrew Hair, said the move should enhance the cooperation with financial advisers and consultants and help them build cost effective portfolios for their clients.
The company, whose entities in Australia and New Zealand had $8.9 billion in assets under management, said that over $1 billion came from non-institutional investors and received interest from advisers, consultants and wholesale investors.
“Acadian’s systematic investment approach reduces the subjective aspects of investing,” Hair said.
“This approach aims to exploit price inefficiencies in markets by considering a range of fundamental and behavioural investment insights.”
Following the fees cut, the Acadian Wholesale Australian Equity Fund would offer the lowest fee for an active Australian equities manager on the FirstChoice menu, the firm said.
Source: Acadian Asset Management
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