Alphinity lowers global equities management fees
Alphinity Investment Management is lowering the management fees of its two global equity funds from 1.00% to 0.75%.
The changes were inclusive of goods & services tax and net of reduced input tax credit.
With changes to take place from 1 May, the fee reduction followed a review of the funds by Alphinity and Fidante Partners, the responsible entity for both funds. Performance fees for both funds would remain the same.
Alphinity Global portfolio manager, Jonas Palmqvist, said: “Both Alphinity and Fidante Partners are focused on ensuring costs to investors remain appropriate and in line with market expectations, and our new management fee structure is a reflection of this”.
The first fund to change its fees, the Alphinity Global Equity fund, sought to invest in a concentrated set of quality companies, identified as undervalued and within an earnings upgrade cycle.
The second was the Alphinity Global Sustainable Equity fund, a strategy that retained the approach of the flagship global fund but also applied an environmental, social and governance methodology to its investments.
Recommended for you
Perpetual has seen AUM rise 6 per cent in the last quarter but the departure of a longstanding JOHCM fund manager led to outflows of $2.2 billion from his strategy.
In the latest Meet the Manager profile, Money Management speaks with Michael Skinner, founder and managing director at Blackwattle Investment Partners.
Global fixed income fund Bentham Global Opportunities has been added to several major platforms, enabling it to be accessed more easily by financial advisers.
Following yesterday’s news about First Sentier Investors closing four investment teams, a second global asset manager has announced it is closing its only dedicated Australian fund.
