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First State cuts five funds’ AMCs

First State cuts five funds’ AMCs

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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