Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of 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 JPM’s Negyal: Back divis to temper EM volatility

JPM’s Negyal: Back divis to temper EM volatility

Omar Negyal, co-manager of the JPMorgan Global Emerging Markets Income trust, says a dividend approach to emerging markets reduces the volatility of investing in the asset class.

Play WMR: Why Russia will lose this war

WMR: Why Russia will lose this war

Author and journalist Adam Lebor believes a perfect storm is brewing when it comes to the Russian economy. .

Play WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

Chief economic adviser to London mayor Boris Johnson outlines the geo-political risks in Asia and explains why the risk of another eurozone crisis must not be underestimated.

Your Business: Cover Star Club

Profile: 'new normal' now is as dangerous as when it was applied to tech

Profile: 'new normal' now is as dangerous as when it was applied to tech

7IM's CIO Chris Darbyshire says he has been re-energised by his new role, but has little time for 'new normal' doom-mongers

Wealth Manager on Twitter