View the article online at http://citywire.co.uk/wealth-manager/article/a744097
First State cuts five funds’ AMCs
by Robert St George on Apr 01, 2014 at 13:47
First State Investments has reduced the fees on five of its funds from 0.85% to 0.75%.
The affected funds are:
|Fund name||Fund size||Manager||Three-year return||Benchmark return|
|First State Asian Property Securities||£11 million||Stephen Hayes||7.9%||17%|
|First State Global Agribusiness||£27 million||Renzo Casarotto||-5.3%||0.9%|
|First State Global Listed Infrastructure||£822 million||Peter Meany||29.5%||24.8%|
|First State Global Property Securities||£200 million||Stephen Hayes||16.4%||24.4%|
|First State Global Resources||£484 million||Joanne Warner||-37.7%||-33%|
Of the managers, Meany (pictured) is + rated by Citywire.
The changes relate to the funds’ B share class.
‘First State Investments regularly reviews the key features, pricing, terms and policies of its funds to ensure that they remain relevant and continue to meet the needs of our customers,’ the group stated.
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- First State Asian Property Securities A GBP Acc
- First State Global Agribusiness B GBP Acc
- First State Global Listed Infrastructure B GBP Acc
- First State Global Property Securities B EUR Acc
- First State Global Resources A EUR Acc
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