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View the article online at http://citywire.co.uk/wealth-manager/article/a731405

Cazenove fund charges set to rise following Schroders merger

by Dylan Lobo on Jan 30, 2014 at 17:36

Cazenove fund charges set to rise following Schroders merger

Cazenove funds will see their ongoing charges rise once the range is moved onto the same platform as acquirer Schroders.

Schroders said ongoing charges on Cazenove funds would increase as a result of higher administration charges. Cazenove funds will move in line with Schroders' existing fund charges.

The administration fee on Cazenove funds will increase to 0.15% when the funds are rebranded on 24 March. The administration fees previously ranged from 0.04% to 0.06%.

Under the new charges the Cazenove UK Opportunities fund, run by Julie Dean (pictured), will have an ongoing charge figure (OCF) of 1.69% on its B share class, compared to where it stands currently at 1.56%.

Paul Marriage’s Cazenove UK Smaller Companies fund will have an OCF of 1.67%, compared to its current 1.58% for its B share class.

However, the Cazenove UK Corporate Bond fund , managed by Alexander Smitten, will see an increase of  0.10% to its admin fee.

A spokesperson at Schroders added: 'Our funds’ on-going charges are checked on a regular basis to ensure they are competitive.'

1 comment so far. Why not have your say?

A C Wiltshire

Jan 31, 2014 at 17:10

I would have thought that due to economies of scale that charges would have reduced not increased! Question, if Cazenove were able to operate at lower charges than Schroders, what does that say about Schroders?

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