Lyxor has acted to reduce the costs on its managed futures fund amid a difficult run for such strategies.
The £128 million Lyxor Epsilon Managed Futures fund has cut the management fee on its class A shares from 1.94% to 1.5%, and its performance fee from 20% to 10%. On class B shares, the management fee has dropped from 3.94% to 1% and the performance fee from 20% to 15%.
Managed futures funds have endured a torrid period, with the Newedge CTA index losing 5% over the past three years.
Yet within that environment, Lyxor Epsilon Managed Futures has fared better than most, returning 13.3% through the year to the end of November while the Newedge CTA index rose by just 0.2%.
Lyxor attributed the strong recent performance in particular to its equity and currency positions, including long contracts on US markets and a short bet against the Australian dollar versus the US dollar.