T.Rowe Price lowers fees for global equity fund
T. Rowe Price has lowered the fee structure for its flagship Australian Unit Trust – Global Equity fund from 1.18% per annum to 0.94% per annum, effective from 1 July 2020, to phase out conflicted grandfathered remuneration.
The new fees would be better aligned with other T. Rowe Price local offerings, including the T.Rowe Price Australian Unit Trust Global Equity Fund (0.60% per annum) and T.Rowe Price Dynamic Global Bond Fund (0.40% per annum).
According to T.Rowe Price’s Australian sales manager, Darren Hall, the new fee structure would provide a more attractive entry point to end investor.
“Putting client interests first is a core value of our firm and a key determinant influencing our decision making.
“As the industry transitions away from legacy systems and processes, modern structures are evolving around how to support investors achieve their capital and income needs, an we are pleased to be working well ahead of the Government’s year-end timeline for cleaner remuneration arrangements.”
Fees on the fund’s hedged share class would also be reduced from 1.20% per annum to 0.99% from the same date.
Performance of T.Rowe Price Global Equity fund versus its MSCI ACWI benchmark over one year to 29 April, 2020
AUTHOR
Oksana Patron
Recommended for you
The merger with L1 Capital will “inject new life” into Platinum, Morningstar believes, but is unlikely to boost Platinum’s declining funds under management.
More than half of the top 20 most popular shares bought by advised investors during the first half of 2025 were ETFs, according to AUSIEX data.
At least two-thirds of ETF flows are understood to be driven by intermediaries, according to Global X, as net flows into Australian ETFs spike 97 per cent in the first half of 2025.
Inflows for the first half of 2025 for GQG Partners stand at US$8 billion, but the firm has flagged fund underperformance could be a headwind for future flows.
