Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Invesco Perpetual overhauls fund charges with single fee

Invesco Perpetual overhauls fund charges with single fee

Invesco Perpetual has introduced a new single fund management fee (FMF) across its entire fund range.

From 1 April investors in Invesco Perpetual's investment company with variable capital (ICVC) range will pay a single FMF, which will be quoted in all key investor information documents and is the equivalent to the ongoing charge.  

The FMF covers the management of the fund, maintaining the share register, fund governance and administration, including services such as custody and audit.

Portfolio transaction costs will continue to be applied separately as they cannot be predicted in advance. but detailed disclosure of these costs on a historic basis will continue to be available through Invesco Perpetual's website.

Where the costs of managing a fund change, Invesco Perpetual will give investors at least 60 days' notice.

The move comes after increasing pressure from the Financial Conduct Authority on the asset management industry to remove the level of complexity in charging structures.

The watchdog has also said firms need to ensure that fees relating to financial products are clear. 

Invesco Perpetual said its action would ensure both clear and consistent cost disclosure to its investors.

'Invesco Perpetual is introducing the fund management fee to make it easier for investors to understand the costs of the funds in which they invest,' said head of UK retail Ian Trevers (pictured).

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Wealth Manager Retreat 2017: size isn't everything

Wealth Manager Retreat 2017: size isn't everything

We asked our delegates at the Wealth Manager Retreat what they think about the recent wave of consolidation in the industry.

1 Comment Play CIO Tapes - part 3: 'passive funds are anti-capitalist'

CIO Tapes - part 3: 'passive funds are anti-capitalist'

Citywire recently gathered three of the UK's leading fund investment heads to discuss their hopes, fears and the issues that their jobs throw at them daily.

Play CIO Tapes: do investors have it as good as it gets?

CIO Tapes: do investors have it as good as it gets?

Citywire gathered three of the UK's leading fund investment heads to discuss what they fear and what makes them cheer about the year ahead

Read More
Your Business: Cover Star Club

Profile: Rathbone's Newcastle boss on the road to £1bn

Profile: Rathbone's Newcastle boss on the road to £1bn

Starting from zero assets on day one, Rathbone's Newcastle team now looks after just over £400 million in clients money

Wealth Manager on Twitter