Edinburgh-based Saracen Fund Managers has cut the management charge on its TB Saracen UK Alpha Fund from 1.00% to 0.75% a year.
The move comes just days after the UK’s Financial Conduct Authority announced long-awaited plans to boost transparency and competition with the asset management industry.
Scott McKenzie, the fund’s manager, said that the fee reduction reflected his aim to grow the fund in a competitive market.
“The fund has a very high active share, at 95%, which compares favourably with the many UK equity funds charging active fees for a closet tracking service,” he said.
“The fund has an excellent track record with strong potential for future growth and we are confident it will attract a wider audience.”
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